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

Texas Capital Bancshares (NASDAQ:TCBI) had its price target upped by Hovde Group from $73.00 to $79.00 in a research note issued to investors on Friday morning, Marketbeat Ratings reports. Hovde Group currently has a market perform rating on the bank’s stock.

Several other analysts also recently issued reports on the company. Jefferies Financial Group dropped their price target 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. JPMorgan Chase & Co. dropped their price target 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. DA Davidson lifted their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Wedbush lifted their price target on Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.19.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $79.02 on Friday. The business’s 50-day moving average price is $69.13 and its two-hundred day moving average price is $63.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.69 billion, a PE ratio of 23.95, a P/E/G ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The business had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts forecast 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 purchased 4,000 shares of the stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares in the company, valued at $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 14,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the stock in a transaction on Thursday, July 25th. The shares were acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following 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 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 over the last 90 days. 0.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors have recently bought and sold shares of TCBI. AlphaMark Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 2.6% during the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after acquiring an additional 139 shares during the period. Blue Trust Inc. boosted its holdings in shares of Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Texas Capital Bancshares by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after acquiring an additional 257 shares during the period. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after acquiring an additional 275 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after acquiring an additional 344 shares during the period. 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.