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

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target hoisted by equities research analysts at Hovde Group from $75.00 to $95.00 in a report issued on Friday,Briefing.com Automated Import reports. The firm presently has a "market perform" rating on the bank's stock. Hovde Group's price objective suggests a potential upside of 4.87% from the company's current price.

A number of other research analysts have also weighed in on TCBI. Stephens cut 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 research note on Monday, April 21st. 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. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Barclays boosted their price objective on shares of Texas Capital Bancshares from $70.00 to $78.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $80.86.

Texas Capital Bancshares Trading Up 1.2%

Texas Capital Bancshares stock traded up $1.12 during midday trading on Friday, hitting $90.59. 38,966 shares of the stock were exchanged, compared to its average volume of 462,265. The company has a fifty day simple moving average of $77.90 and a two-hundred day simple moving average of $75.60. Texas Capital Bancshares has a 52 week low of $56.24 and a 52 week high of $94.61. The stock has a market capitalization of $4.16 billion, a PE ratio of 51.88, a P/E/G ratio of 0.85 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The business had revenue of $307.46 million for the quarter, compared to analyst estimates of $298.90 million. During the same quarter last year, the firm earned $0.80 EPS. Equities research analysts anticipate that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares of the company's stock, valued at $1,216,800. This trade 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 bought a total of 29,800 shares of company stock worth $1,059,205 over the last three months. Corporate insiders own 1.72% of the company's stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of TCBI. GAMMA Investing LLC lifted its holdings in shares of Texas Capital Bancshares by 45.7% in the second quarter. GAMMA Investing LLC now owns 1,211 shares of the bank's stock worth $96,000 after acquiring an additional 380 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Texas Capital Bancshares by 29.7% in the second quarter. UMB Bank n.a. now owns 756 shares of the bank's stock worth $60,000 after acquiring an additional 173 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Texas Capital Bancshares by 22.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,682 shares of the bank's stock worth $745,000 after acquiring an additional 1,614 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Texas Capital Bancshares by 11.3% in the second quarter. Pallas Capital Advisors LLC now owns 4,255 shares of the bank's stock worth $338,000 after acquiring an additional 432 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Texas Capital Bancshares in the second quarter worth about $656,000. Institutional investors own 96.88% of the company's stock.

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.

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