Texas Capital Bancshares (NASDAQ:TCBI) Given New $97.00 Price Target at Stephens

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective dropped by stock analysts at Stephens from $102.00 to $97.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Stephens’ price target suggests a potential upside of 24.32% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler cut 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. Royal Bank of Canada boosted their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock 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 report on Friday, October 18th. Truist Financial boosted their target price on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.73.

Texas Capital Bancshares Stock Performance

TCBI traded down $0.66 on Tuesday, hitting $78.03. 36,217 shares of the stock traded hands, compared to its average volume of 487,016. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.61 billion, a PE ratio of 432.28, a P/E/G ratio of 0.73 and a beta of 1.17. The business has a fifty day moving average price of $81.61 and a two-hundred day moving average price of $74.64.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, research analysts predict that Texas Capital Bancshares will post 4.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Algert Global LLC raised its position in Texas Capital Bancshares by 367.3% in the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after purchasing an additional 17,540 shares during the period. Jane Street Group LLC raised its stake in shares of Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after acquiring an additional 68,632 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Texas Capital Bancshares during the third quarter worth about $740,000. Wolverine Asset Management LLC grew its stake in shares of Texas Capital Bancshares by 23.6% in the third quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank’s stock worth $2,933,000 after purchasing an additional 7,849 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Texas Capital Bancshares by 19.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock valued at $4,045,000 after purchasing an additional 9,225 shares during the period. 96.88% of the stock is currently 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.