Texas Capital Bancshares (NASDAQ:TCBI) Given New $86.00 Price Target at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its price target hoisted by Truist Financial from $80.00 to $86.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup reissued a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. DA Davidson lifted their target price 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. Royal Bank of Canada upped their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Finally, Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $77.00 to $82.00 in a research note on Friday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.56.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $76.63 on Monday. The stock has a market cap of $3.54 billion, a PE ratio of 425.72, a price-to-earnings-growth ratio of 1.00 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 firm has a fifty day moving average price of $69.13 and a 200-day moving average price of $63.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 0.99.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $400,000. The trade was a 300.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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, for a total transaction of $204,600.00. Following the completion of the acquisition, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 43,000 shares of company stock valued at $866,100 in the last ninety days. 0.99% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $675,000. Hodges Capital Management Inc. raised its holdings in Texas Capital Bancshares by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after purchasing an additional 28,650 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Texas Capital Bancshares by 73.0% in the 1st quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock valued at $1,569,000 after buying an additional 10,752 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Texas Capital Bancshares by 26.6% in the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock worth $2,096,000 after buying an additional 7,200 shares during the last quarter. 96.88% of the stock is 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.