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

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target boosted by equities researchers at Barclays from $78.00 to $82.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the bank's stock. Barclays's price objective points to a potential downside of 8.61% from the company's previous close.

Several other research firms have also recently weighed in on TCBI. Stephens cut their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Hovde Group increased their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday. Piper Sandler dropped their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Raymond James Financial dropped 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 report on Monday, April 21st. Three investment 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. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus target price of $82.50.

Texas Capital Bancshares Price Performance

TCBI traded up $0.26 on Friday, hitting $89.73. 808,730 shares of the stock were exchanged, compared to its average volume of 462,426. Texas Capital Bancshares has a 12 month low of $56.24 and a 12 month high of $94.61. The business has a 50-day moving average of $78.23 and a two-hundred day moving average of $75.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 0.89 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The business had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sell-side analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares 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 acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the acquisition, the director directly owned 60,000 shares in the company, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 29,800 shares of company stock valued at $1,059,205. 1.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in Texas Capital Bancshares by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 756 shares of the bank's stock valued at $60,000 after purchasing an additional 173 shares during the period. Envestnet Asset Management Inc. increased its position in Texas Capital Bancshares by 1.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank's stock valued at $810,000 after purchasing an additional 207 shares during the period. Moody National Bank Trust Division increased its position in Texas Capital Bancshares by 1.5% during the 1st quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock valued at $1,317,000 after purchasing an additional 255 shares during the period. Xponance Inc. increased its position in Texas Capital Bancshares by 4.8% during the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank's stock valued at $514,000 after purchasing an additional 300 shares during the period. Finally, Beacon Pointe Advisors LLC increased its position in Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank's stock valued at $1,472,000 after purchasing an additional 350 shares during the period. Institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Company Profile

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.