Citigroup Forecasts Strong Price Appreciation for Texas Capital Bancshares (NASDAQ:TCBI) Stock

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its price objective boosted by Citigroup from $69.00 to $79.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a sell rating on the bank's stock.

Several other equities research analysts also recently issued reports on the stock. DA Davidson dropped their price target 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. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Raymond James Financial reduced their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Piper Sandler reduced their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a report 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Trading Down 0.4%

NASDAQ TCBI traded down $0.40 during mid-day trading on Friday, reaching $89.04. 371,689 shares of the stock were exchanged, compared to its average volume of 462,792. Texas Capital Bancshares has a 1-year low of $56.24 and a 1-year high of $94.61. The business's fifty day simple moving average is $78.23 and its 200 day simple moving average is $75.66. The stock has a market capitalization of $4.07 billion, a PE ratio of 35.26, a PEG ratio of 0.88 and a beta of 0.66. 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 posted its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.35. The company had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same quarter last year, the firm posted $0.80 earnings per share. On average, research analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 10,500 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have purchased 25,300 shares of company stock valued at $769,990. Company insiders own 1.72% of the company's stock.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in TCBI. UMB Bank n.a. boosted its position 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 valued at $60,000 after acquiring an additional 173 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Texas Capital Bancshares by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank's stock valued at $810,000 after acquiring an additional 207 shares during the period. Moody National Bank Trust Division boosted its position in shares of Texas Capital Bancshares by 1.5% in the first quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock valued at $1,317,000 after acquiring an additional 255 shares during the period. Xponance Inc. boosted its position in shares of Texas Capital Bancshares by 4.8% in the fourth quarter. Xponance Inc. now owns 6,569 shares of the bank's stock valued at $514,000 after acquiring an additional 300 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its position in shares of Texas Capital Bancshares by 1.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank's stock valued at $1,472,000 after acquiring an additional 350 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.