Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $83.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target hoisted by Royal Bank of Canada from $73.00 to $83.00 in a research report released on Friday, MarketBeat reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

Other research analysts also recently issued research reports about the company. Citigroup reaffirmed a “sell” rating and issued a $60.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Stephens raised their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $82.00 in a report on Friday. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 17th. Finally, Wedbush lifted their target price on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $73.19.

Texas Capital Bancshares Stock Down 1.9 %

TCBI opened at $79.02 on Friday. The firm’s 50 day simple moving average is $69.13 and its two-hundred day simple moving average is $63.53. The company has a market capitalization of $3.69 billion, a PE ratio of 23.95, a PEG ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $82.25. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter last year, the company earned $1.33 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, with a total value of $204,600.00. Following the purchase, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $20.46 per share, with a total value of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares 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 completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. The trade was a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,500 shares of company stock valued at $876,400 over the last 90 days. 0.99% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after acquiring an additional 161,643 shares during the period. Wellington Management Group LLP grew its holdings in Texas Capital Bancshares by 97.9% during the 4th 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 during the last quarter. Vanguard Group Inc. grew its holdings in Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares during the last quarter. CWM LLC raised its position in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the period. Finally, Mather Group LLC. bought a new stake in Texas Capital Bancshares in the first quarter worth about $50,000. 96.88% of the stock is currently owned by institutional investors.

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.