Texas Capital Bancshares (NASDAQ:TCBI) Rating Increased to Outperform at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $78.00 price objective on the bank’s stock. Raymond James’ price objective suggests a potential upside of 8.44% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on TCBI. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Truist Financial upped their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Stephens lifted their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Wedbush increased their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $67.30.

Texas Capital Bancshares Trading Down 0.0 %

TCBI stock opened at $71.93 on Tuesday. Texas Capital Bancshares has a 52-week low of $52.89 and a 52-week high of $74.31. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.36 billion, a P/E ratio of 21.80, a PEG ratio of 0.98 and a beta of 1.13. The company’s 50-day simple moving average is $65.00 and its 200-day simple moving average is $61.32.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,500 shares of company stock worth $876,400 in the last quarter. Company insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Teachers Retirement System of The State of Kentucky increased its position in shares of Texas Capital Bancshares by 9.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock worth $2,897,000 after purchasing an additional 4,124 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Texas Capital Bancshares during the second quarter worth about $2,704,000. Algert Global LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $292,000. Millennium Management LLC raised its stake in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after acquiring an additional 221,454 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock worth $23,323,000 after acquiring an additional 38,393 shares during the last quarter. Hedge funds and other institutional investors 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.