Truist Financial Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective raised by Truist Financial from $70.00 to $80.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 10.00% from the stock’s current price.

A number of other research firms have also recently weighed in on TCBI. Citigroup restated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Jefferies Financial Group decreased their price target on shares of 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. Wedbush lifted their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Tuesday. Finally, Stephens raised their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. 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, the stock currently has a consensus rating of “Hold” and an average target price of $67.97.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock traded down $1.17 on Friday, hitting $72.73. The company’s stock had a trading volume of 155,447 shares, compared to its average volume of 418,385. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $74.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a fifty day moving average price of $65.19 and a 200-day moving average price of $61.40.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS 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 business had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter last year, the firm earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 3.43 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $400,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares in the company, valued at $263,812.28. 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares during the last quarter. Norges Bank purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at $35,120,000. AQR Capital Management LLC lifted its stake in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares in the last quarter. Millennium Management LLC boosted its holdings in Texas Capital Bancshares by 146.7% during 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, Mesirow Institutional Investment Management Inc. acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at about $11,489,000. 96.88% of the stock is owned by hedge funds and other 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.