Hovde Group Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $79.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price upped by equities research analysts at Hovde Group from $73.00 to $79.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would indicate a potential downside of 0.03% from the stock’s current price.

Several other research analysts have also recently commented on TCBI. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. Jefferies Financial Group cut their target price 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 raised their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Tuesday, September 17th. Finally, Citigroup reissued a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus target price of $73.19.

Texas Capital Bancshares Trading Down 1.9 %

NASDAQ TCBI opened at $79.02 on Friday. The stock has a market cap of $3.69 billion, a P/E ratio of 23.95, a PEG ratio of 0.98 and a beta of 1.13. The company’s fifty day simple moving average is $69.13 and its 200-day simple moving average is $63.49. 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 52 week low of $52.89 and a 52 week high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The firm had revenue of $472.49 million during 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 quarter in the prior year, the firm earned $1.33 EPS. Equities research analysts predict that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the acquisition, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. This trade represents a 300.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings acquired 4,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price 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 in the company, valued at $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 43,500 shares of company stock valued at $876,400 in the last quarter. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after acquiring an additional 547,336 shares during the period. AQR Capital Management LLC boosted its stake in 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 purchasing an additional 506,094 shares during the period. Millennium Management LLC grew its position in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $11,489,000. Finally, American Century Companies Inc. raised its holdings in shares of Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after buying an additional 171,263 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.