Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price objective increased by analysts at Keefe, Bruyette & Woods from $86.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 11.45% from the stock's previous close.
A number of other equities research analysts also recently issued reports on the company. Piper Sandler lowered their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. DA Davidson reduced their price objective on 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. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Citigroup boosted their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a research note on Friday. Finally, Raymond James Financial cut their price target on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Three 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $83.50.
Get Our Latest Stock Report on Texas Capital Bancshares
Texas Capital Bancshares Stock Performance
Shares of TCBI stock opened at $89.73 on Monday. The stock has a fifty day moving average price of $78.23 and a 200 day moving average price of $75.66. The stock has a market cap of $4.11 billion, a PE ratio of 35.61, a P/E/G ratio of 0.88 and a beta of 0.66. Texas Capital Bancshares has a 1 year low of $56.24 and a 1 year high of $94.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.35. The firm had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%. During the same period in the previous year, the firm posted $0.80 earnings per share. Sell-side analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Robert W. Stallings acquired 10,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the transaction, the director directly owned 60,000 shares of the company's stock, valued at approximately $1,216,800. This trade represents a 21.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 25,300 shares of company stock valued at $769,990. Insiders own 1.72% of the company's stock.
Hedge Funds Weigh In On Texas Capital Bancshares
Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Texas Capital Bancshares in the 1st quarter valued at $528,000. Nomura Holdings Inc. bought a new position in Texas Capital Bancshares during the 4th quarter worth about $479,000. Bank of America Corp DE increased its holdings in Texas Capital Bancshares by 25.0% during the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after purchasing an additional 39,832 shares in the last quarter. SG Americas Securities LLC bought a new position in Texas Capital Bancshares during the 1st quarter worth about $16,938,000. Finally, Edgestream Partners L.P. increased its holdings in Texas Capital Bancshares by 28.8% during the 1st quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock worth $9,796,000 after purchasing an additional 29,341 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.
About Texas Capital Bancshares
(
Get Free Report)
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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