Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $71.00 at Barclays

Texas Capital Bancshares (NASDAQ:TCBI) had its target price upped by investment analysts at Barclays from $60.00 to $71.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays‘s target price would indicate a potential downside of 19.05% from the company’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price target for the company from $51.00 to $77.00 in a report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Hovde Group upped their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Truist Financial upped their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.69.

Texas Capital Bancshares Trading Up 0.7 %

TCBI opened at $87.71 on Thursday. The firm has a market capitalization of $4.05 billion, a P/E ratio of 487.28, a P/E/G ratio of 0.85 and a beta of 1.14. The firm’s 50 day moving average is $81.03 and its 200-day moving average is $69.45. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the transaction, the director now owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently modified their holdings of TCBI. Innealta Capital LLC bought a new position in Texas Capital Bancshares in the 2nd quarter valued at about $26,000. Blue Trust Inc. grew its position in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after buying an additional 169 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in Texas Capital Bancshares in the 3rd quarter valued at about $31,000. CWM LLC grew its position in Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Texas Capital Bancshares in the 3rd quarter valued at about $71,000. Institutional investors own 96.88% of the company’s stock.

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.