Texas Capital Bancshares (NASDAQ:TCBI) Price Target Increased to $77.00 by Analysts at Wedbush

Texas Capital Bancshares (NASDAQ:TCBI) had its target price hoisted by equities researchers at Wedbush from $70.00 to $77.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Wedbush’s price objective would suggest a potential upside of 7.65% from the company’s previous close.

A number of other equities analysts have also issued reports on TCBI. Truist Financial upped their target price on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday. Jefferies Financial Group decreased their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. DA Davidson boosted their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Hovde Group upped their price target on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday. Five investment 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’s stock. Based on data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $69.20.

Texas Capital Bancshares Stock Down 0.3 %

Shares of TCBI stock traded down $0.18 during trading on Tuesday, hitting $71.53. 121,038 shares of the company were exchanged, compared to its average volume of 423,976. 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 twelve month low of $52.89 and a twelve month high of $74.57. The business’s 50-day simple moving average is $65.63 and its 200 day simple moving average is $61.67. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last issued 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 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 prior year, the business posted $1.33 earnings per share. As a group, analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $20.46 per share, with a total value of $204,600.00. Following the acquisition, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares 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 transaction, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 43,500 shares of company stock valued at $876,400. Corporate insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors have recently modified their holdings of TCBI. Norges Bank bought a new stake in Texas Capital Bancshares in the fourth quarter worth about $35,120,000. Rafferty Asset Management LLC lifted its position in shares of Texas Capital Bancshares by 144.5% during the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after purchasing an additional 72,782 shares in the last quarter. First Hawaiian Bank acquired a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $675,000. Goldman Sachs Group Inc. grew its position in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after purchasing an additional 28,650 shares during the period. 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.