Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $110.00

Key Points

• Barclays raised Texas Capital Bancshares’ price target from $100 to $110 while maintaining an “equal weight” rating, implying approximately 5.85% upside.
• Analyst sentiment remains cautious: the stock has an overall “Hold” consensus rating and a $106 average price target, based on three Buy, eight Hold, and one Sell rating.
• Texas Capital Bancshares recently exceeded quarterly expectations, reporting $2.35 in earnings per share versus the $1.96 consensus estimate and $356.6 million in revenue versus $339.89 million expected.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price objective lifted by analysts at Barclays from $100.00 to $110.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the bank's stock. Barclays's price objective points to a potential upside of 5.85% from the company's current price.

Several other equities research analysts have also recently commented on TCBI. TD Cowen boosted their target price on Texas Capital Bancshares from $100.00 to $104.00 and gave the stock a "hold" rating in a report on Friday, October 23rd. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. JPMorgan Chase & Co. lowered their price target on Texas Capital Bancshares from $110.00 to $100.00 and set an "underweight" rating on the stock in a research report on Thursday, October 1st. Royal Bank Of Canada lowered their price target on Texas Capital Bancshares from $113.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 22nd. Finally, Raymond James Financial dropped their price objective on Texas Capital Bancshares from $115.00 to $108.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $106.00.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded down $0.20 during trading hours on Tuesday, hitting $103.92. 30,580 shares of the company traded hands, compared to its average volume of 494,623. The firm has a market cap of $4.41 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.03 and a beta of 0.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. The firm's 50-day simple moving average is $95.86 and its two-hundred day simple moving average is $98.72. Texas Capital Bancshares has a 1-year low of $82.14 and a 1-year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The bank reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.39. The company had revenue of $356.60 million during the quarter, compared to analyst estimates of $339.89 million. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 11.04%. As a group, analysts forecast that Texas Capital Bancshares will post 7.72 earnings per share for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $26,000. Ameritas Advisory Services LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth $51,000. Farther Finance Advisors LLC raised its position in shares of Texas Capital Bancshares by 29.8% during the third quarter. Farther Finance Advisors LLC now owns 583 shares of the bank's stock worth $54,000 after purchasing an additional 134 shares during the period. Finally, Westpac Banking Corp purchased a new stake in shares of Texas Capital Bancshares during the first quarter valued at $58,000. 96.88% of the stock is currently owned by institutional investors.

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 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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