DA Davidson Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price boosted by DA Davidson from $73.00 to $81.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other brokerages also recently weighed in on TCBI. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 17th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Finally, Royal Bank of Canada raised their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $76.76 on Friday. The company has a market capitalization of $3.55 billion, a P/E ratio of 426.44, a P/E/G ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares has a 1-year low of $53.16 and a 1-year high of $82.25. The firm’s 50 day simple moving average is $70.86 and its two-hundred day simple moving average is $64.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Insider Activity

In related news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares in the company, valued at $1,800,011.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 49,000 shares of company stock valued at $1,004,620 in the last ninety days. Insiders own 1.53% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares during the period. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter worth approximately $26,000. Fidelis Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares during the first quarter valued at approximately $54,000. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after purchasing an additional 275 shares during the period. Finally, Headlands Technologies LLC grew its stake in Texas Capital Bancshares by 80.4% in the first quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock worth $179,000 after purchasing an additional 1,297 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

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.