Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $77.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective boosted by investment analysts at Wedbush from $70.00 to $77.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Wedbush’s price target would indicate a potential upside of 7.65% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Stephens increased their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Citigroup reissued a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price target for the company from $51.00 to $77.00 in a report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $69.20.

Texas Capital Bancshares Trading Down 0.3 %

NASDAQ:TCBI traded down $0.18 on Tuesday, hitting $71.53. 121,038 shares of the stock were exchanged, compared to its average volume of 423,976. The stock has a market cap of $3.34 billion, a PE ratio of 21.68, 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. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $74.57. The stock has a fifty day moving average of $65.63 and a 200-day moving average of $61.67.

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

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average cost of $20.62 per share, for a total transaction 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 Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings purchased 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price 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 $400,000. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 43,500 shares of company stock worth $876,400. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Texas Capital Bancshares in the 4th quarter valued at about $35,120,000. UBS Group AG boosted its holdings in Texas Capital Bancshares by 51.0% in the fourth quarter. UBS Group AG now owns 97,714 shares of the bank’s stock valued at $6,315,000 after acquiring an additional 33,022 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Texas Capital Bancshares in the fourth quarter worth about $1,551,000. TFO Wealth Partners LLC increased its position in Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Texas Capital Bancshares by 144.5% during the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after purchasing an additional 72,782 shares during the last quarter. 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.