Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $71.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective lifted by Barclays from $60.00 to $71.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an underweight rating on the bank’s stock.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada lifted their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.69.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $87.71 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.05 billion, a PE ratio of 487.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. The firm’s 50 day moving average price is $81.03 and its 200-day moving average price is $69.51. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Equities research analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This represents a 30.97 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TCBI. Price T Rowe Associates Inc. MD increased its position in Texas Capital Bancshares by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,357 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,494 shares during the last quarter. CWM LLC raised its position in shares of Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Texas Capital Bancshares by 1,905.7% in the 2nd quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after acquiring an additional 74,932 shares during the last quarter. AlphaMark Advisors LLC grew its position in Texas Capital Bancshares by 11.6% in the second quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank’s stock worth $321,000 after acquiring an additional 546 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in Texas Capital Bancshares by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after acquiring an additional 257 shares during the last quarter. 96.88% of the stock is currently owned by 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.