Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by Raymond James to Outperform

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by investment analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, FinViz reports. The brokerage presently has a $78.00 price objective on the bank’s stock. Raymond James’ price target would indicate a potential upside of 9.60% from the stock’s current price.

Several other analysts have also issued reports on TCBI. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Wedbush boosted their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Stephens boosted 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 report 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 given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.30.

Texas Capital Bancshares Trading Up 1.5 %

NASDAQ TCBI opened at $71.17 on Tuesday. The business’s fifty day moving average is $64.78 and its 200-day moving average is $61.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share 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 company had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same period in the prior year, the company earned $1.33 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 43,500 shares of company stock valued at $876,400. Company insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Texas Capital Bancshares by 9.5% during 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 in the last quarter. Point72 Asset Management L.P. bought a new position in Texas Capital Bancshares during the second quarter valued at approximately $2,704,000. Algert Global LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter worth approximately $292,000. Millennium Management LLC lifted its holdings in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock worth $23,323,000 after acquiring an additional 38,393 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

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.