Texas Capital Bancshares (NASDAQ:TCBI) Price Target Increased to $73.00 by Analysts at Hovde Group

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

TCBI has been the subject of several other reports. Citigroup restated a “sell” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. DA Davidson increased their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Finally, Wedbush raised their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Five 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.73.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $72.00 on Monday. The firm’s 50 day moving average price is $65.54 and its two-hundred day moving average price is $61.59. 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 has a 52-week low of $52.89 and a 52-week high of $74.57. The stock has a market cap of $3.36 billion, a PE ratio of 21.82, a PEG ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to the consensus estimate 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 business earned $1.33 earnings per share. As a group, analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction on Monday, July 29th. The stock was purchased at an average price of $20.46 per share, with a total value of $204,600.00. Following the transaction, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert W. Stallings acquired 14,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was bought at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the acquisition, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The disclosure for this purchase can be found here. Over the last three months, insiders bought 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares during the last quarter. Wellington Management Group LLP lifted its stake in Texas Capital Bancshares by 97.9% in the fourth 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 last quarter. AQR Capital Management LLC grew its position in shares of Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after acquiring an additional 506,094 shares during the period. American Century Companies Inc. increased its stake in shares of Texas Capital Bancshares by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the period. 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.