Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $79.00 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective upped by research analysts at Hovde Group from $73.00 to $79.00 in a report released on Friday, Briefing.com reports. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential downside of 1.91% from the stock’s current price.

A number of other brokerages also recently issued reports on TCBI. Jefferies Financial Group reduced their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their target price on Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Stephens upped their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Wedbush lifted their price objective on Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $77.00 to $82.00 in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.31.

Texas Capital Bancshares Trading Up 2.7 %

NASDAQ:TCBI opened at $80.54 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $3.72 billion, a P/E ratio of 29.08, a P/E/G ratio of 0.98 and a beta of 1.13. The firm’s fifty day moving average is $68.75 and its 200-day moving average is $63.32. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 18th. The bank reported $0.80 EPS 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 firm had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same period in the previous year, the firm earned $1.33 earnings per share. Equities analysts expect that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Stallings bought 10,000 shares of Texas Capital Bancshares stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the transaction, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,500 shares of company stock valued at $876,400 in the last 90 days. 1.53% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBI. AlphaMark Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 2.6% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock valued at $386,000 after acquiring an additional 139 shares during the last quarter. Creative Planning acquired a new stake in Texas Capital Bancshares during the third quarter worth approximately $440,000. CWM LLC boosted its stake in Texas Capital Bancshares by 69.8% in the third quarter. CWM LLC now owns 1,611 shares of the bank’s stock valued at $115,000 after acquiring an additional 662 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Texas Capital Bancshares by 47.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,723 shares of the bank’s stock valued at $909,000 after purchasing an additional 4,100 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Texas Capital Bancshares by 9.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock worth $2,897,000 after acquiring an additional 4,124 shares during the last quarter. 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.