Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives $74.69 Consensus PT from Analysts

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has been assigned an average recommendation of “Hold” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $74.69.

Several brokerages recently issued reports on TCBI. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Truist Financial boosted their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. 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, Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $77.65 on Friday. The firm has a fifty day simple moving average of $83.10 and a 200-day simple moving average of $71.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.59 billion, a PE ratio of 431.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80.

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

Insider Buying and Selling at Texas Capital Bancshares

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 stock was acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the acquisition, the director now owns 84,587 shares in the company, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 acquiring an additional 506,094 shares in the last quarter. Millennium Management LLC grew its stake in Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Texas Capital Bancshares in the 2nd quarter worth about $11,489,000. American Century Companies Inc. raised its stake in shares of 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 purchasing an additional 171,263 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake 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 purchasing an additional 150,301 shares in the last quarter. Hedge funds and other 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.