JPMorgan Chase & Co. Issues Pessimistic Forecast for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Key Points

• JPMorgan lowered its price target for Texas Capital Bancshares from $110 to $100 and maintained an “underweight” rating, implying 8.85% potential upside from the stock’s $91.87 price.
• Analyst sentiment is mixed, with four Buy ratings, eight Holds and one Sell; the consensus rating is “Hold” with an average price target of $104.75.
• Texas Capital Bancshares slightly exceeded quarterly expectations, reporting $1.88 in earnings per share versus the $1.87 consensus and $335.5 million in revenue, up 9.1% year over year.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $110.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 8.85% from the stock's current price.

Other analysts also recently issued research reports about the stock. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. TD Cowen lowered their target price on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Texas Capital Bancshares in a report on Monday, July 6th. Stephens dropped their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Finally, Citigroup cut their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and an average target price of $104.75.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock traded down $1.15 on Thursday, hitting $91.87. The stock had a trading volume of 119,635 shares, compared to its average volume of 483,405. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.14 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a twelve month low of $75.41 and a twelve month high of $108.92. The business's 50 day moving average is $97.92 and its two-hundred day moving average is $99.14.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. The business had revenue of $335.50 million during the quarter, compared to analysts' expectations of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.63 EPS. Analysts forecast that Texas Capital Bancshares will post 7.39 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the sale, the insider directly owned 7,529 shares in the company, valued at $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.91% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Texas Capital Bancshares in the second quarter valued at approximately $1,683,000. The Manufacturers Life Insurance Company bought a new stake in Texas Capital Bancshares during the second quarter worth $4,228,000. BlackRock Inc. bought a new stake in Texas Capital Bancshares during the second quarter worth $578,148,000. Quantinno Capital Management LP boosted its holdings in shares of Texas Capital Bancshares by 288.1% in the 1st quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank's stock valued at $3,295,000 after purchasing an additional 25,781 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at $3,244,000. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.

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