Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) had its price target dropped by analysts at Stephens from $102.00 to $97.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Stephens’ price target suggests a potential upside of 23.55% from the company’s previous close.
Several other research firms have also weighed in on TCBI. Royal Bank of Canada raised their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Barclays increased their price target on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, January 24th. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.13.
Read Our Latest Analysis on TCBI
Texas Capital Bancshares Price Performance
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, sell-side analysts predict that Texas Capital Bancshares will post 4.08 earnings per share for the current fiscal year.
Insider Activity at Texas Capital Bancshares
In other news, Director Robert W. Stallings purchased 2,006 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the acquisition, the director now directly owns 182,899 shares in the company, valued at approximately $3,839,050.01. The trade was a 1.11 % 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. 0.99% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Texas Capital Bancshares
Several hedge funds have recently added to or reduced their stakes in TCBI. Blue Trust Inc. raised its position in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Texas Capital Bancshares during the 3rd quarter worth $31,000. R Squared Ltd bought a new position in Texas Capital Bancshares during the fourth quarter worth about $41,000. Meeder Asset Management Inc. acquired a new position in Texas Capital Bancshares in the third quarter valued at about $71,000. Finally, CWM LLC increased its holdings in shares of 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 and hedge funds 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.
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