Texas Capital Bancshares (NASDAQ:TCBI) Stock Price Expected to Rise, Hovde Group Analyst Says

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its target price hoisted by Hovde Group from $75.00 to $95.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. Hovde Group currently has a market perform rating on the bank's stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. DA Davidson cut their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Stephens lowered their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, 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 note on Tuesday, July 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Price Performance

TCBI stock traded down $0.29 during trading on Friday, reaching $89.44. 597,811 shares of the company were exchanged, compared to its average volume of 463,009. Texas Capital Bancshares has a twelve month low of $56.24 and a twelve month high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 0.88 and a beta of 0.66. The company has a 50-day moving average of $78.23 and a two-hundred day moving average of $75.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The company had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same period in the prior year, the firm posted $0.80 EPS. As a group, equities analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the transaction, the director owned 60,000 shares of the company's stock, valued at $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 25,300 shares of company stock worth $769,990. Company insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its position in Texas Capital Bancshares by 1,089.8% during the first 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. Ameritas Advisory Services LLC acquired a new position in shares of Texas Capital Bancshares during the second quarter worth about $52,000. GAMMA Investing LLC lifted its stake in shares of Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after purchasing an additional 465 shares in the last quarter. State of Wyoming acquired a new position in shares of Texas Capital Bancshares during the first quarter worth about $70,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $115,000. 96.88% of the stock is owned by hedge funds and other 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.