JPMorgan Chase & Co. Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by JPMorgan Chase & Co. from $81.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

TCBI has been the topic of a number of other research reports. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Hovde Group increased their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Finally, Barclays boosted their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.27.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI opened at $77.45 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares has a 1 year low of $54.68 and a 1 year high of $91.80. The firm has a market capitalization of $3.58 billion, a PE ratio of 430.28, a P/E/G ratio of 0.73 and a beta of 1.17. The business’s 50 day moving average price is $81.75 and its 200-day moving average price is $74.35.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TCBI. Geode Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after purchasing an additional 13,022 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after acquiring an additional 150,301 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Texas Capital Bancshares by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock valued at $40,792,000 after purchasing an additional 10,171 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in Texas Capital Bancshares by 12.6% during the third quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank’s stock worth $33,372,000 after purchasing an additional 52,095 shares in the last quarter. Hedge funds and other 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.