JPMorgan Chase & Co. Has Lowered Expectations for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $81.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.29% from the stock’s current price.

A number of other analysts have also weighed in on the company. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Royal Bank of Canada upped their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. StockNews.com lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.27.

Texas Capital Bancshares Trading Up 0.6 %

Shares of TCBI stock opened at $77.45 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 430.28, a PEG ratio of 0.73 and a beta of 1.17. Texas Capital Bancshares has a 1 year low of $54.68 and a 1 year high of $91.80. The firm has a fifty day moving average price of $81.75 and a 200-day moving average price of $74.45.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, equities analysts predict that Texas Capital Bancshares will post 4.08 earnings per share for the current year.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in TCBI. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Texas Capital Bancshares by 34.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,097 shares of the bank’s stock valued at $495,000 after buying an additional 2,069 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Texas Capital Bancshares during the 2nd quarter worth $207,000. Sei Investments Co. raised its holdings in shares of Texas Capital Bancshares by 8.5% during the 2nd quarter. Sei Investments Co. now owns 152,887 shares of the bank’s stock valued at $9,347,000 after purchasing an additional 12,041 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Texas Capital Bancshares by 54.6% in the second quarter. Gabelli Funds LLC now owns 10,050 shares of the bank’s stock worth $614,000 after purchasing an additional 3,550 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after buying an additional 506,094 shares during the last quarter. Institutional investors and hedge funds 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.