Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective raised by research analysts at DA Davidson from $65.00 to $74.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 7.15% from the company’s current price.

A number of other equities analysts have also issued reports on TCBI. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $77.00 in a report on Monday. Truist Financial lifted their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday. Jefferies Financial Group reduced their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Stephens raised their price objective 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. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $66.77.

Texas Capital Bancshares Stock Performance

TCBI traded up $1.51 during trading on Monday, reaching $69.06. 312,281 shares of the company were exchanged, compared to its average volume of 419,466. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $72.07. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $63.75 and a 200 day moving average of $60.79. The stock has a market cap of $3.19 billion, a P/E ratio of 20.90, a PEG ratio of 3.05 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the prior year, the company posted $1.33 EPS. On average, sell-side analysts forecast that Texas Capital Bancshares will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 4,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average cost of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 4,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 43,500 shares of company stock valued at $876,400. 0.99% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently made changes to their positions in TCBI. Teachers Retirement System of The State of Kentucky increased its stake 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 period. Point72 Asset Management L.P. acquired a new position in shares of Texas Capital Bancshares in the second quarter worth $2,704,000. Algert Global LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth $292,000. Millennium Management LLC boosted its position in Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in Texas Capital Bancshares by 11.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock valued at $23,323,000 after purchasing an additional 38,393 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.