Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by investment analysts at Truist Financial from $70.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 11.11% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Citigroup reiterated a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Finally, Wedbush lifted their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.97.

Texas Capital Bancshares Stock Down 2.6 %

Shares of NASDAQ TCBI opened at $72.00 on Friday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.02 and a beta of 1.13. The firm’s fifty day moving average is $65.54 and its 200 day moving average is $61.58. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter last year, the company posted $1.33 EPS. On average, equities research analysts expect that Texas Capital Bancshares will post 3.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 10,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now owns 31,294 shares of the company’s stock, valued at $640,275.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert W. Stallings acquired 4,000 shares of the business’s 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 acquisition, the director now owns 12,794 shares in the company, valued at $263,812.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at $640,275.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 43,500 shares of company stock worth $876,400. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after acquiring an additional 68,211 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares during the last quarter. AQR Capital Management LLC grew its position 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. American Century Companies Inc. increased its stake in Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after buying an additional 171,263 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after buying an additional 161,643 shares in 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.