Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $72.00 at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lowered by JPMorgan Chase & Co. from $73.00 to $72.00 in a report released on Wednesday, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

Several other equities research analysts have also commented on TCBI. Citigroup restated a sell rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Bank of America upgraded shares of Texas Capital Bancshares from an underperform rating to a buy rating and increased their price objective for the company from $51.00 to $77.00 in a report on Monday, September 9th. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Jefferies Financial Group decreased 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 report on Wednesday, July 3rd. Finally, Stephens increased their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an overweight rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned 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 price target of $69.13.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $75.79 on Wednesday. The firm’s 50 day moving average is $67.16 and its two-hundred day moving average is $62.85. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $76.26. The firm has a market capitalization of $3.50 billion, a P/E ratio of 27.36, a PEG ratio of 0.94 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $268.02 million. During the same quarter in the previous year, the business posted $1.33 EPS. Analysts anticipate that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares 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 acquisition, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert W. Stallings acquired 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the purchase, the director now owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $20.62 per share, with a total value of $82,480.00. Following the purchase, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 43,500 shares of company stock worth $876,400. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter worth approximately $26,000. CWM LLC lifted its position in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares in the last quarter. Mather Group LLC. purchased a new stake in Texas Capital Bancshares in the 1st quarter worth approximately $50,000. Fidelis Capital Partners LLC purchased a new stake in Texas Capital Bancshares in the 1st quarter worth approximately $54,000. Finally, Headlands Technologies LLC lifted its position in Texas Capital Bancshares by 80.4% in the 1st quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock worth $179,000 after buying an additional 1,297 shares in 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.