Barclays Increases Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $82.00

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its target price upped by research analysts at Barclays from $78.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the bank's stock. Barclays's price objective indicates a potential downside of 9.46% from the company's previous close.

A number of other research analysts have also commented on TCBI. Raymond James Financial lowered their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Keefe, Bruyette & Woods lowered their price objective on shares of 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 reduced 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 report on Monday, April 21st. Finally, JPMorgan Chase & Co. raised 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded up $0.84 during trading hours on Friday, reaching $90.57. The company's stock had a trading volume of 133,872 shares, compared to its average volume of 461,232. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $78.23 and a 200 day simple moving average of $75.66. Texas Capital Bancshares has a 52 week low of $56.24 and a 52 week high of $94.61. The stock has a market cap of $4.14 billion, a PE ratio of 35.98, a PEG ratio of 0.88 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $307.46 million for the quarter, compared to analysts' expectations of $298.90 million. During the same quarter last year, the company posted $0.80 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings bought 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 25,300 shares of company stock worth $769,990. Company insiders own 1.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. boosted its position in shares of Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after acquiring an additional 534 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Texas Capital Bancshares by 127.0% during the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after buying an additional 465 shares during the last quarter. State of Wyoming bought a new stake in shares of Texas Capital Bancshares during the first quarter worth approximately $70,000. Aster Capital Management DIFC Ltd bought a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $115,000. Finally, Sterling Capital Management LLC increased its stake in Texas Capital Bancshares by 819.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after purchasing an additional 1,320 shares in the last quarter. 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.