Royal Bank of Canada Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $83.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price raised by Royal Bank of Canada from $73.00 to $83.00 in a report released on Friday morning, Marketbeat reports. They currently have a sector perform rating on the bank’s stock.

A number of other analysts have also weighed in on TCBI. DA Davidson increased their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Hovde Group increased their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday. 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. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $77.00 to $82.00 in a research note on Friday. Finally, Wedbush raised their target price on Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Five equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.19.

Texas Capital Bancshares Price Performance

TCBI stock opened at $79.02 on Friday. The firm has a market cap of $3.69 billion, a P/E ratio of 23.95, a P/E/G ratio of 0.98 and a beta of 1.13. The firm’s fifty day moving average is $69.13 and its 200 day moving average is $63.53. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $82.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its 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 company had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period last year, the firm posted $1.33 EPS. Research analysts predict that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the acquisition, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the transaction, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 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, 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. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,500 shares of company stock valued at $876,400 in the last ninety days. 0.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors have recently made changes to their positions in TCBI. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares during the period. CWM LLC raised its stake in Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. bought a new position in shares of Texas Capital Bancshares during the 1st quarter valued at $50,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter valued at $54,000. Hedge funds and other 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.