Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $62.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lifted by analysts at Truist Financial from $61.00 to $62.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 1.94% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Mizuho reaffirmed a “hold” rating and set a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Raymond James lowered Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Wedbush decreased their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group lowered their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $63.65.

Texas Capital Bancshares Stock Up 2.1 %

Shares of Texas Capital Bancshares stock opened at $60.82 on Monday. The stock’s fifty day moving average is $59.65 and its 200-day moving average is $60.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.84 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. Texas Capital Bancshares has a 12-month low of $52.36 and a 12-month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $256.33 million for the quarter, compared to the consensus estimate of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. Equities analysts anticipate that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the purchase, the director now directly owns 169,706 shares in the company, valued at approximately $3,285,508.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $19.52 per share, with a total value of $117,120.00. Following the acquisition, the director now owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $19.36 per share, with a total value of $58,080.00. Following the acquisition, the director now directly owns 169,706 shares in the company, valued at $3,285,508.16. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,004 shares of company stock worth $292,878. Insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Texas Capital Bancshares in the 4th quarter valued at $35,120,000. Wellington Management Group LLP raised its holdings in Texas Capital Bancshares by 78.0% during the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after purchasing an additional 245,074 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $873,000. Rafferty Asset Management LLC boosted its position in shares of Texas Capital Bancshares by 144.5% during the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after purchasing an additional 72,782 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $3,402,000. 96.88% of the stock is owned by institutional investors.

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.