Stephens Increases Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $75.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price boosted by equities research analysts at Stephens from $73.00 to $75.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Stephens’ target price would suggest a potential upside of 13.67% from the stock’s previous close.

A number of other brokerages have also recently issued reports on TCBI. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Royal Bank of Canada dropped their price objective on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group dropped their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods dropped their price objective on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Finally, Wedbush increased their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.50.

Texas Capital Bancshares Stock Down 0.1 %

Texas Capital Bancshares stock traded down $0.06 during midday trading on Friday, reaching $65.98. The stock had a trading volume of 19,992 shares, compared to its average volume of 428,040. The firm’s fifty day simple moving average is $60.50 and its 200-day simple moving average is $60.19. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $72.07. The stock has a market capitalization of $3.08 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results 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 net margin of 9.66% and a return on equity of 7.05%. The firm had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. During the same period in the prior year, the business posted $1.33 EPS. As a group, analysts expect that Texas Capital Bancshares will post 3.53 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 3,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $19.36 per share, with a total value of $58,080.00. Following the acquisition, the director now owns 169,706 shares in the company, valued at approximately $3,285,508.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the transaction, the director now directly owns 169,706 shares in the company, valued at $3,285,508.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the completion of the transaction, the director now owns 163,706 shares in the company, valued at $3,195,541.12. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 15,004 shares of company stock valued at $292,878. 0.99% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares during the last quarter. Norges Bank bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $35,120,000. Goldman Sachs Group Inc. raised its position in Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Texas Capital Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after purchasing an additional 80,311 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Texas Capital Bancshares by 1,905.7% in the second quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after purchasing an additional 74,932 shares during the last quarter. 96.88% of the stock is currently 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.