Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price raised by Truist Financial from $70.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 10.00% from the company’s previous close.

A number of other equities research analysts have also weighed in on TCBI. Stephens raised their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. DA Davidson raised their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Citigroup reaffirmed a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday. Finally, Wedbush increased their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. 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, the stock currently has an average rating of “Hold” and an average price target of $67.97.

Texas Capital Bancshares Stock Down 1.6 %

NASDAQ:TCBI traded down $1.17 during midday trading on Friday, reaching $72.73. The company had a trading volume of 155,447 shares, compared to its average volume of 418,385. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $74.57. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.02 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $65.19 and its 200-day simple moving average is $61.40.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same period in the prior year, the firm posted $1.33 earnings per share. On average, sell-side analysts anticipate that Texas Capital Bancshares will post 3.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 15,000 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings bought 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the transaction, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 43,500 shares of company stock valued at $876,400. 0.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors have recently made changes to their positions in TCBI. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $26,000. CWM LLC lifted its position in shares of Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter worth approximately $50,000. Fidelis Capital Partners LLC acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter worth approximately $54,000. Finally, TFO Wealth Partners LLC increased its stake in Texas Capital Bancshares by 123,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after purchasing an additional 2,475 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.