Texas Capital Bancshares (NASDAQ:TCBI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its target price boosted by JPMorgan Chase & Co. from $70.00 to $82.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank's stock.

Several other research firms have also issued reports on TCBI. DA Davidson dropped their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Stephens decreased their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Hovde Group lowered their target price on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Finally, 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 note on Wednesday, May 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $78.86.

Texas Capital Bancshares Stock Up 2.0%

Shares of TCBI stock traded up $1.66 during trading on Tuesday, reaching $84.26. The company's stock had a trading volume of 409,664 shares, compared to its average volume of 458,227. Texas Capital Bancshares has a one year low of $56.24 and a one year high of $91.80. The business has a fifty day moving average price of $74.14 and a 200-day moving average price of $75.02. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 0.91 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 issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The business had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired at an average cost of $20.28 per share, with a total value of $212,940.00. Following the acquisition, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 29,800 shares of company stock worth $1,059,205 in the last three months. Insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at about $656,000. Strs Ohio bought a new position in shares of Texas Capital Bancshares during the first quarter worth approximately $194,000. Intech Investment Management LLC raised its stake in Texas Capital Bancshares by 22.1% in the first quarter. Intech Investment Management LLC now owns 29,790 shares of the bank's stock valued at $2,225,000 after purchasing an additional 5,393 shares in the last quarter. Bayforest Capital Ltd raised its stake in Texas Capital Bancshares by 69.7% in the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after purchasing an additional 948 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Texas Capital Bancshares by 29.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank's stock worth $8,050,000 after purchasing an additional 24,538 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.