JPMorgan Chase & Co. Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $81.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.29% from the stock’s current price.

TCBI has been the subject of several other research reports. Royal Bank of Canada increased their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday. Barclays raised their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Truist Financial raised their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $76.27.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $77.45 on Friday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 430.28, a PEG ratio of 0.73 and a beta of 1.17. Texas Capital Bancshares has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $81.75 and a 200 day moving average price of $74.45.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Research analysts expect that Texas Capital Bancshares will post 4.08 EPS for the current year.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after buying an additional 169 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter valued at $31,000. R Squared Ltd bought a new position in Texas Capital Bancshares during the fourth quarter valued at $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Texas Capital Bancshares during the 3rd quarter valued at about $71,000. Finally, CWM LLC grew its position in Texas Capital Bancshares by 69.8% in the third quarter. CWM LLC now owns 1,611 shares of the bank’s stock worth $115,000 after acquiring an additional 662 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.