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

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

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Wall Street Zen cut shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Piper Sandler dropped 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 note on Monday, April 21st. DA Davidson dropped 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 note on Monday, April 21st. Finally, Hovde Group dropped 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 note on Monday, April 21st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $79.43.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock traded down $0.68 during trading on Tuesday, reaching $86.80. The company's stock had a trading volume of 263,665 shares, compared to its average volume of 460,696. The company has a 50-day moving average price of $76.29 and a two-hundred day moving average price of $75.30. The firm has a market cap of $3.98 billion, a PE ratio of 50.01, a P/E/G ratio of 0.96 and a beta of 0.66. Texas Capital Bancshares has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. On average, analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Texas Capital Bancshares

A number of large investors have recently added to or reduced their stakes in TCBI. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the fourth quarter worth approximately $30,000. Assetmark Inc. bought a new stake in Texas Capital Bancshares during the fourth quarter worth approximately $32,000. UMB Bank n.a. boosted its stake in Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares during the period. GAMMA Investing LLC boosted its stake in Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after purchasing an additional 465 shares during the period. Finally, State of Wyoming acquired a new position in Texas Capital Bancshares in the 1st quarter worth approximately $70,000. 96.88% of the stock is currently owned by institutional investors.

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.