Texas Capital Bancshares (NASDAQ:TCBI) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen cut Texas Capital Bancshares’ price target from $106 to $100 and maintained a “hold” rating, implying roughly 7% upside from the prior close.
• Analyst sentiment remains broadly cautious: the stock has a consensus “hold” rating and a $104.25 average price target, based on four buys, eight holds and one sell.
• Shares fell 0.3% to $93.47. The bank recently beat quarterly earnings estimates, reporting $1.88 in EPS and $335.5 million in revenue, with revenue up 9.1% year over year.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target decreased by stock analysts at TD Cowen from $106.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a "hold" rating on the bank's stock. TD Cowen's price target indicates a potential upside of 6.99% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research report on Wednesday, July 1st. Stephens decreased 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 note on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price target 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. Citigroup dropped their price objective on shares of Texas Capital Bancshares from $107.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $104.25.

Texas Capital Bancshares Stock Down 0.3%

Shares of Texas Capital Bancshares stock traded down $0.29 during trading hours on Monday, reaching $93.47. 79,725 shares of the company were exchanged, compared to its average volume of 484,827. The firm has a market cap of $4.06 billion, a PE ratio of 12.16, a PEG ratio of 1.14 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 1 year low of $75.41 and a 1 year high of $108.92. The stock's fifty day moving average is $97.71 and its 200 day moving average is $99.16.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. During the same period last year, the business posted $1.63 earnings per share. Texas Capital Bancshares's revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Texas Capital Bancshares will post 7.39 earnings per share 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 that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. 1.91% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently modified their holdings of TCBI. Root Financial Partners LLC grew its position in shares of Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 150 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Texas Capital Bancshares in the second quarter valued at $34,000. FNY Investment Advisers LLC acquired a new position in Texas Capital Bancshares in the second quarter valued at $51,000. Westpac Banking Corp acquired a new position in Texas Capital Bancshares in the first quarter valued at $58,000. Finally, State of Wyoming purchased a new position in shares of Texas Capital Bancshares during the second quarter worth about $73,000. 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 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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