Truist Financial Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $62.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by Truist Financial from $61.00 to $62.00 in a report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other analysts have also issued research reports about the company. Mizuho reaffirmed a hold rating and issued a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Citigroup decreased their price target on Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating on the stock in a research note on Wednesday, March 13th. Jefferies Financial Group decreased their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Stephens decreased their target price on Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating on the stock in a report on Friday, April 19th. Finally, Raymond James cut Texas Capital Bancshares from a strong-buy rating to a market perform rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $63.65.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $62.33 on Monday. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $66.18. The firm has a market capitalization of $2.91 billion, a PE ratio of 18.89, a PEG ratio of 1.48 and a beta of 1.15. The business’s 50 day moving average is $59.73 and its 200-day moving average is $60.05. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $256.33 million for the quarter, compared to analyst estimates of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. Sell-side analysts predict that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $19.70 per share, with a total value of $59,100.00. Following the completion of the purchase, the director now directly owns 153,706 shares of the company’s stock, valued at approximately $3,028,008.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $19.70 per share, with a total value of $59,100.00. Following the completion of the purchase, the director now owns 153,706 shares of the company’s stock, valued at approximately $3,028,008.20. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was bought at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the purchase, the director now directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Insiders have bought 15,004 shares of company stock valued at $292,878 over the last 90 days. 1.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBI. CWM LLC raised its position in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares during the period. First Hawaiian Bank acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth about $675,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Texas Capital Bancshares by 154.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 43,257 shares of the bank’s stock worth $2,663,000 after purchasing an additional 26,273 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Texas Capital Bancshares by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,357 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,494 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth about $400,000. Institutional investors and hedge funds 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.