Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives $74.00 Average PT from Brokerages

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $74.00.

Several research analysts have issued reports on TCBI shares. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 17th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Finally, Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $89.22 on Tuesday. Texas Capital Bancshares has a 52-week low of $53.69 and a 52-week high of $91.80. The firm has a market capitalization of $4.12 billion, a P/E ratio of 495.67, a P/E/G ratio of 0.85 and a beta of 1.12. The stock has a fifty day moving average price of $78.66 and a two-hundred day moving average price of $68.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, analysts anticipate that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after acquiring an additional 13,022 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Texas Capital Bancshares by 15.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after buying an additional 150,301 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after buying an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. grew its position 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 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.