Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $110.00

Key Points

• JPMorgan raised Texas Capital Bancshares’ price target from $105 to $110, though it kept an underweight rating on the stock. The new target implies about 5.14% upside from the current price.
• Analyst sentiment is mixed overall: the stock now has a consensus Hold rating and an average price target of $106.17. Recent calls included upgrades from Citigroup and target increases from Piper Sandler and Fundamental Research.
• Texas Capital Bancshares recently reported strong quarterly results, with EPS of $1.58 beating estimates and revenue rising 15.5% year over year. Shares traded around $104.62 on Wednesday, near the stock’s 52-week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its target price increased by analysts at JPMorgan Chase & Co. from $105.00 to $110.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 5.14% from the stock's current price.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup raised shares of Texas Capital Bancshares from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $96.00 to $105.00 in a research note on Tuesday. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a report on Wednesday. Piper Sandler raised their price objective on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Finally, Zacks Research lowered Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average target price of $106.17.

Texas Capital Bancshares Price Performance

TCBI traded up $1.36 during trading hours on Wednesday, hitting $104.62. The company's stock had a trading volume of 49,007 shares, compared to its average volume of 482,965. Texas Capital Bancshares has a 12 month low of $75.41 and a 12 month high of $108.92. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.46 and a beta of 0.67. The business's 50-day moving average price is $100.25 and its 200-day moving average price is $98.31. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $323.99 million during the quarter, compared to analyst estimates of $318.10 million. Texas Capital Bancshares had a return on equity of 10.76% and a net margin of 17.71%.The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Sell-side analysts expect that Texas Capital Bancshares will post 7.63 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider owned 23,810 shares of the company's stock, valued at approximately $2,403,619.50. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the sale, the chief executive officer directly owned 167,635 shares of the company's stock, valued at $16,968,014.70. The trade was a 22.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 102,100 shares of company stock worth $10,366,023 in the last three months. Insiders own 1.91% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Danske Bank A S purchased a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $25,000. Farther Finance Advisors LLC lifted its position in Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. Root Financial Partners LLC grew its holdings in Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Advisory Services Network LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter worth $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock valued at $35,000 after buying an additional 246 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

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