Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $81.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $86.00 to $81.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.69% from the stock’s current price.

A number of other research firms have also recently issued reports on TCBI. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a report on Monday, September 9th. DA Davidson lifted their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays increased their price objective on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.75.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $76.64 on Tuesday. The stock’s fifty day simple moving average is $83.05 and its 200 day simple moving average is $72.94. Texas Capital Bancshares has a one year low of $54.68 and a one year high of $91.80. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 425.78, a P/E/G ratio of 0.80 and a beta of 1.17. 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 earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, analysts expect that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This represents a 30.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of the stock. Cim Investment Management Inc. bought a new position in shares of Texas Capital Bancshares in the third quarter worth $212,000. Sanctuary Advisors LLC acquired a new stake in Texas Capital Bancshares during the third quarter worth about $310,000. Teachers Retirement System of The State of Kentucky increased its holdings in Texas Capital Bancshares by 19.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock valued at $4,045,000 after buying an additional 9,225 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Texas Capital Bancshares by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after buying an additional 217 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Texas Capital Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after acquiring an additional 13,022 shares during the period. 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.