Texas Capital Bancshares (NASDAQ:TCBI) Price Target Increased to $73.00 by Analysts at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective boosted by Hovde Group from $66.00 to $73.00 in a research note published on Monday morning, Marketbeat Ratings reports. They currently have a market perform rating on the bank’s stock.

Several other brokerages have also weighed in on TCBI. Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating for the company in a report on Wednesday, July 3rd. Bank of America upgraded Texas Capital Bancshares from an underperform rating to a buy rating and increased their price target for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. DA Davidson increased their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a neutral rating in a research report on Monday, September 9th. Finally, Truist Financial boosted their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a hold rating in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $69.20.

Texas Capital Bancshares Trading Up 1.0 %

NASDAQ TCBI opened at $70.71 on Monday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.03 and a beta of 1.13. The business’s fifty day moving average is $65.72 and its 200-day moving average is $61.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 3.44 EPS for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert W. Stallings acquired 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the acquisition, the director now directly owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, with a total value of $204,600.00. Following the transaction, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. The disclosure for this purchase can be found here. Insiders have bought 43,500 shares of company stock worth $876,400 over the last quarter. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares during the last quarter. Norges Bank purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at $35,120,000. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after acquiring an additional 506,094 shares during the period. Millennium Management LLC raised its stake in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth about $11,489,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.