Hovde Group Increases Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price increased by equities research analysts at Hovde Group from $66.00 to $73.00 in a report issued on Monday, StockNewsAPI reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective points to a potential upside of 1.39% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group reduced their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Stephens increased their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Wedbush boosted their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Citigroup reiterated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Finally, DA Davidson boosted their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.73.

Texas Capital Bancshares Stock Down 2.6 %

TCBI opened at $72.00 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a fifty day moving average of $65.54 and a 200-day moving average of $61.59. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $74.57. The company has a market capitalization of $3.36 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period in the prior year, the firm earned $1.33 EPS. On average, equities analysts expect that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Activity

In other news, Director Robert W. Stallings acquired 4,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 15,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 43,500 shares of company stock worth $876,400. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at $35,120,000. UBS Group AG raised its position in shares of Texas Capital Bancshares by 51.0% during the fourth quarter. UBS Group AG now owns 97,714 shares of the bank’s stock worth $6,315,000 after acquiring an additional 33,022 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $1,551,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $724,000. Finally, TFO Wealth Partners LLC increased its position in Texas Capital Bancshares by 123,750.0% during 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 during the period. 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.