Barclays Increases Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $60.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target increased by investment analysts at Barclays from $49.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Barclays‘s price objective points to a potential downside of 22.99% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. 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. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research note on Friday. Royal Bank of Canada raised their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday. DA Davidson upped their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their target price for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $72.19.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded down $2.63 during mid-day trading on Friday, hitting $77.91. The stock had a trading volume of 240,648 shares, compared to its average volume of 422,651. 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 has a one year low of $52.89 and a one year high of $82.25. The firm’s 50 day moving average is $68.75 and its 200 day moving average is $63.32. The firm has a market capitalization of $3.63 billion, a P/E ratio of 23.70, a P/E/G ratio of 0.98 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last issued 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). The company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter last year, the company earned $1.33 earnings per share. On average, sell-side analysts forecast that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert W. Stallings purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. This represents a 300.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings bought 4,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $263,812.28. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock valued at $876,400 over the last quarter. 0.99% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of TCBI. Wellington Management Group LLP increased its stake 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 period. AQR Capital Management LLC boosted its stake in shares of 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 buying an additional 506,094 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after acquiring an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Texas Capital Bancshares during the second quarter worth $11,489,000. Finally, American Century Companies Inc. grew its holdings in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after purchasing an additional 171,263 shares during the last quarter. Hedge funds and other institutional investors 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.