Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $93.00 at Hovde Group

Key Points

• The Hovde Group has raised the price target for Texas Capital Bancshares from $85.00 to $93.00, indicating a potential upside of 13.37% from its current price.
• Texas Capital Bancshares reported earnings of $2.18 per share for the latest quarter, exceeding estimates by $0.41, and experienced a revenue increase of 171.6% year-over-year.
• Analyst ratings for the stock are mixed, with three "Buy" ratings, eight "Hold" ratings, and three "Sell" ratings, leading to an average rating of "Hold" and a consensus price target of $83.90.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target lifted by analysts at Hovde Group from $85.00 to $93.00 in a report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a "market perform" rating on the bank's stock. Hovde Group's price target indicates a potential upside of 13.37% from the company's current price.

A number of other equities research analysts have also recently commented on the company. Barclays set a $85.00 price objective on Texas Capital Bancshares and gave the company an "underweight" rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup increased their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Zacks Research downgraded shares of Texas Capital Bancshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.90.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $82.03 on Thursday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.67. Texas Capital Bancshares has a 52 week low of $59.37 and a 52 week high of $94.61. The firm has a 50 day moving average of $85.05 and a 200-day moving average of $79.15. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $340.35 million for the quarter, compared to analyst estimates of $327.13 million. During the same quarter in the prior year, the business earned ($1.41) earnings per share. The business's quarterly revenue was up 171.6% compared to the same quarter last year. On average, equities analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently made changes to their positions in TCBI. True Wealth Design LLC boosted its holdings in Texas Capital Bancshares by 106.8% during the third quarter. True Wealth Design LLC now owns 643 shares of the bank's stock worth $54,000 after purchasing an additional 332 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $269,000. Sivia Capital Partners LLC lifted its position in shares of Texas Capital Bancshares by 28.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,387 shares of the bank's stock worth $286,000 after buying an additional 759 shares in the last quarter. CWM LLC lifted its position in shares of Texas Capital Bancshares by 145.1% during the 3rd quarter. CWM LLC now owns 21,909 shares of the bank's stock worth $1,852,000 after buying an additional 12,971 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $509,000. Institutional investors own 96.88% of the company's stock.

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.

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