Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $78.00 at Barclays

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its price objective raised by Barclays from $70.00 to $78.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank's stock.

Several other analysts have also commented on TCBI. JPMorgan Chase & Co. raised their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Stephens dropped their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Hovde Group dropped their target price on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen lowered Texas Capital Bancshares from a "hold" rating to a "sell" rating in a report on Saturday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $79.43.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded up $0.46 during mid-day trading on Tuesday, reaching $86.68. The stock had a trading volume of 392,377 shares, compared to its average volume of 460,641. The business's fifty day moving average is $75.54 and its 200-day moving average is $75.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 0.95 and a beta of 0.66. Texas Capital Bancshares has a 1-year low of $56.24 and a 1-year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. On average, research analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings purchased 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the completion of the purchase, the director directly owned 60,000 shares of the company's stock, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased 29,800 shares of company stock valued at $1,059,205 over the last quarter. Insiders own 1.72% of the company's stock.

Institutional Trading of Texas Capital Bancshares

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Texas Capital Bancshares in the first quarter worth approximately $528,000. Nomura Holdings Inc. acquired a new position in Texas Capital Bancshares during the fourth quarter worth $479,000. Bank of America Corp DE boosted its stake in Texas Capital Bancshares by 25.0% during the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after buying an additional 39,832 shares during the last quarter. US Bancorp DE boosted its stake in Texas Capital Bancshares by 1,575.0% during the fourth quarter. US Bancorp DE now owns 10,519 shares of the bank's stock worth $823,000 after buying an additional 9,891 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Texas Capital Bancshares by 37.5% during the fourth quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank's stock worth $7,538,000 after buying an additional 26,294 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

About Texas Capital Bancshares

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.