Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lifted by Hovde Group from $66.00 to $73.00 in a research note published on Monday morning, Marketbeat reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other research firms also recently commented on TCBI. Truist Financial upped their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a hold rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods restated an outperform rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. 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. Stephens upped their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an overweight rating in a research note on Friday, July 19th. Finally, Bank of America upgraded shares of Texas Capital Bancshares from an underperform rating to a buy rating and upped their price target for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $69.20.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $70.02 on Monday. The firm has a market capitalization of $3.23 billion, a PE ratio of 21.22, a PEG ratio of 1.03 and a beta of 1.13. The company’s 50-day moving average is $65.62 and its 200-day moving average is $61.80. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $74.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to the consensus estimate 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 company earned $1.33 earnings per share. Equities analysts forecast that Texas Capital Bancshares will post 3.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The shares were bought 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 approximately $263,812.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Texas Capital Bancshares 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 acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, 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 accessible through this link. Also, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction that occurred 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 acquisition, 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 bought 43,500 shares of company stock worth $876,400 over the last ninety days. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky raised its holdings in Texas Capital Bancshares by 9.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock valued at $2,897,000 after buying an additional 4,124 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Texas Capital Bancshares during the 2nd quarter worth approximately $2,704,000. Algert Global LLC bought a new position in Texas Capital Bancshares during the 2nd quarter worth approximately $292,000. Millennium Management LLC raised 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 worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in Texas Capital Bancshares by 11.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock worth $23,323,000 after purchasing an additional 38,393 shares during the last quarter. Institutional investors 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.