TD Cowen Issues Positive Forecast for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Key Points

• TD Cowen raised its price target for Texas Capital Bancshares from $100 to $104 while maintaining a “Hold” rating, implying approximately 3.84% upside from the prior close.
• Analyst sentiment remains mixed but centered on “Hold”: four analysts rate the stock a Buy, eight a Hold, and one a Sell, with a consensus price target of $104.67.
• Texas Capital Bancshares exceeded quarterly expectations, reporting $2.35 in EPS versus the $1.96 consensus and revenue of $356.6 million versus $339.89 million expected; institutional investors own 96.88% of the stock.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its target price hoisted by analysts at TD Cowen from $100.00 to $104.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "hold" rating on the bank's stock. TD Cowen's target price points to a potential upside of 3.84% from the company's previous close.

TCBI has been the subject of a number of other research reports. Fundamental Research set a $110.00 price target on Texas Capital Bancshares in a research note on Wednesday, July 1st. DA Davidson set a $105.00 target price on shares of Texas Capital Bancshares in a report on Thursday. Barclays upgraded Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 price objective for the company in a research note on Monday, August 3rd. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $110.00 to $100.00 and set an "underweight" rating for the company in a report on Thursday, October 1st. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $104.67.

Texas Capital Bancshares Trading Up 1.4%

NASDAQ TCBI opened at $100.15 on Friday. Texas Capital Bancshares has a twelve month low of $81.26 and a twelve month high of $108.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock's 50-day simple moving average is $95.47 and its two-hundred day simple moving average is $98.96. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.99 and a beta of 0.63.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $1.96 by $0.39. The firm had revenue of $356.60 million for the quarter, compared to the consensus estimate of $339.89 million. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 10.92%. Research analysts forecast that Texas Capital Bancshares will post 7.40 EPS for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $578,148,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at about $75,429,000. Bank of America Corp DE bought a new position in shares of Texas Capital Bancshares in the second quarter worth about $47,997,000. Bank of New York Mellon Corp purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth about $43,244,000. Finally, Azora Capital LP purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth about $42,104,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.

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