JPMorgan Chase & Co. Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $92.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Texas Capital Bancshares from $90.00 to $92.00, suggesting a potential upside of 7.53% from the stock's previous close.
• Despite this increase, JPMorgan maintains an "underweight" rating on Texas Capital Bancshares' stock, contributing to a consensus rating of "Hold" from various analysts.
• Texas Capital Bancshares reported a 171.6% year-over-year revenue increase in its latest quarterly earnings, with an EPS of $2.18, exceeding analysts' expectations of $1.77.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $90.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 7.53% from the stock's previous close.

A number of other research firms have also recently commented on TCBI. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Capital Bancshares in a report on Wednesday, October 8th. Zacks Research lowered Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Barclays set a $85.00 price objective on Texas Capital Bancshares and gave the company an "underweight" rating in a report on Wednesday, October 8th. Finally, Cowen assumed coverage on Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a "hold" rating on the stock. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of "Hold" and an average target price of $87.60.

Texas Capital Bancshares Stock Up 4.3%

Texas Capital Bancshares stock traded up $3.53 during midday trading on Thursday, reaching $85.56. The company's stock had a trading volume of 229,032 shares, compared to its average volume of 485,812. The stock's 50-day simple moving average is $85.05 and its 200-day simple moving average is $79.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares has a 52-week low of $59.37 and a 52-week high of $94.61. The stock has a market capitalization of $3.91 billion, a P/E ratio of 33.86, a PEG ratio of 0.65 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The company had revenue of $340.35 million during the quarter, compared to analysts' expectations of $327.13 million. During the same period last year, the business posted ($1.41) earnings per share. The firm's revenue was up 171.6% compared to the same quarter last year. On average, sell-side analysts expect that Texas Capital Bancshares will post 5.84 EPS for the current year.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. GAMMA Investing LLC increased its holdings 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 acquiring an additional 465 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares in the 1st quarter worth $528,000. Bessemer Group Inc. increased its holdings in Texas Capital Bancshares by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 247,416 shares of the bank's stock worth $18,482,000 after acquiring an additional 9,953 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Texas Capital Bancshares in the 1st quarter worth $1,417,000. Finally, Teacher Retirement System of Texas purchased a new stake in Texas Capital Bancshares in the 1st quarter worth $505,000. Hedge funds and other 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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