Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price hoisted by JPMorgan Chase & Co. from $70.00 to $73.00 in a report released on Monday, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

TCBI has been the topic of a number of other reports. Truist Financial raised their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a hold rating in a research note on Monday, July 22nd. Citigroup reissued a sell rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Jefferies Financial Group decreased their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating for the company in a report on Wednesday, July 3rd. Stephens lifted their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an overweight rating in a report on Friday, July 19th. Finally, Wedbush upped their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a neutral rating in a report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares has a consensus rating of Hold and a consensus target price of $66.77.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $67.78 on Monday. The firm has a 50 day moving average of $64.18 and a two-hundred day moving average of $60.96. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $72.07. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.05 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, equities analysts anticipate that Texas Capital Bancshares will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $400,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $400,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Stallings acquired 14,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $19.93 per share, with a total value of $279,020.00. Following the completion of the acquisition, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. The disclosure for this purchase can be found here. Insiders bought a total of 43,500 shares of company stock valued at $876,400 in the last quarter. Corporate insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently modified their holdings of TCBI. Innealta Capital LLC bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $26,000. CWM LLC raised its stake in Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. bought a new position in shares of Texas Capital Bancshares during the first quarter valued at $50,000. Fidelis Capital Partners LLC acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at $54,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of Texas Capital Bancshares by 123,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after purchasing an additional 2,475 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

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.