Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $79.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective increased by Hovde Group from $73.00 to $79.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a market perform rating on the bank’s stock.

TCBI has been the subject of a number of other research reports. Truist Financial lifted their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on shares of Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Wedbush increased their target price on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $77.00 to $82.00 in a report on Friday. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.19.

Texas Capital Bancshares Trading Down 1.9 %

Shares of NASDAQ:TCBI opened at $79.02 on Friday. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $82.25. The business has a 50 day moving average of $69.13 and a 200-day moving average of $63.53. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.69 billion, a PE ratio of 23.95, a P/E/G ratio of 0.98 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, equities research analysts forecast that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 14,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the purchase, the director now owns 55,294 shares in the company, valued at approximately $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 the SEC website. In related news, Director Robert W. Stallings acquired 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the purchase, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 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

A number of institutional investors and hedge funds have recently bought and sold shares of TCBI. Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing 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 last quarter. Millennium Management LLC raised its holdings in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after buying an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth approximately $11,489,000. Finally, American Century Companies Inc. grew its holdings in Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.