Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $72.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its target price cut by investment analysts at JPMorgan Chase & Co. from $73.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.15% from the stock’s current price.

A number of other research firms also recently issued reports on TCBI. Stephens lifted their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price target for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Truist Financial increased their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Jefferies Financial Group dropped their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Citigroup reissued a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $69.13.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI traded up $1.16 during trading hours on Wednesday, reaching $74.34. 393,136 shares of the stock were exchanged, compared to its average volume of 419,411. The stock’s fifty day simple moving average is $66.48 and its 200 day simple moving average is $62.55. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 22.52, a P/E/G ratio of 1.00 and a beta of 1.13. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $74.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period last year, the firm posted $1.33 earnings per share. Sell-side analysts predict that Texas Capital Bancshares will post 3.53 EPS for the current year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 14,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the purchase, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings acquired 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $20.00 per share, with a total value of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. This represents a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 43,500 shares of company stock valued at $876,400. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Texas Capital Bancshares by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares during the last quarter. Wellington Management Group LLP grew its holdings in Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares in the last quarter. AQR Capital Management LLC raised its holdings in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the period. American Century Companies Inc. increased its holdings in Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after purchasing an additional 171,263 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after purchasing an additional 161,643 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.