Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $80.00 at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective raised by JPMorgan Chase & Co. from $72.00 to $80.00 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Citigroup reaffirmed a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 17th. Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Stephens boosted their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Wedbush increased their price objective on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Five equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.19.

Texas Capital Bancshares Trading Down 1.9 %

Shares of NASDAQ TCBI opened at $79.02 on Friday. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $82.25. The business has a fifty day moving average price of $69.13 and a 200 day moving average price of $63.53. The stock has a market capitalization of $3.69 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share 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 firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the business posted $1.33 earnings per share. Equities research analysts expect that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 4,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. 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 acquired 4,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was bought 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 owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings bought 15,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $400,000. This represents a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 43,500 shares of company stock worth $876,400 over the last quarter. 0.99% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in 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 valued at $71,515,000 after acquiring an additional 547,336 shares during the period. AQR Capital Management LLC grew its position in shares of Texas Capital Bancshares by 87.0% in the second 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 increased its stake in shares of Texas Capital Bancshares by 146.7% during the second 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 in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Texas Capital Bancshares during the 2nd quarter worth about $11,489,000. Finally, American Century Companies Inc. lifted its stake in Texas Capital Bancshares by 43.8% in the 2nd 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 in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.