Barclays Forecasts Strong Price Appreciation for Texas Capital Bancshares (NASDAQ:TCBI) Stock

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

A number of other research firms also recently commented on TCBI. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Piper Sandler cut their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group set a $80.00 price objective on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Hovde Group cut their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Finally, DA Davidson cut their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $79.43.

Texas Capital Bancshares Stock Up 0.9%

NASDAQ TCBI traded up $0.79 during trading on Tuesday, reaching $87.47. 412,638 shares of the company's stock traded hands, compared to its average volume of 461,351. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 50.27, a price-to-earnings-growth ratio of 0.96 and a beta of 0.66. The company's 50 day simple moving average is $76.29 and its two-hundred day simple moving average is $75.30. Texas Capital Bancshares has a 12-month low of $56.24 and a 12-month 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 analysts' consensus estimates of $0.99 by ($0.07). The business had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. As a group, sell-side analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 29,800 shares of company stock worth $1,059,205. Insiders own 1.72% of the company's stock.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management acquired a new stake in Texas Capital Bancshares during the 4th quarter valued at approximately $30,000. Assetmark Inc. acquired a new stake in Texas Capital Bancshares during the 4th quarter valued at approximately $32,000. UMB Bank n.a. lifted its stake in Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after acquiring an additional 534 shares during the period. GAMMA Investing LLC lifted its stake in Texas Capital Bancshares by 127.0% during the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after acquiring an additional 465 shares during the period. Finally, State of Wyoming acquired a new stake in Texas Capital Bancshares during the 1st quarter valued at approximately $70,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

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.