Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $62.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective upped by Truist Financial from $61.00 to $62.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

TCBI has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating on the stock in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods cut their price objective on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating on the stock in a report on Monday, April 22nd. Jefferies Financial Group cut their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Raymond James lowered shares of Texas Capital Bancshares from a strong-buy rating to a market perform rating in a report on Thursday, April 4th. Finally, Wedbush cut their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating on the stock in a report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of Hold and a consensus price target of $63.65.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $64.20 on Monday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.48 and a beta of 1.15. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $66.18. The company’s 50-day moving average price is $59.82 and its 200 day moving average price is $60.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $256.33 million for the quarter, compared to analysts’ expectations of $253.27 million. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. As a group, research analysts forecast that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings acquired 6,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were bought at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the purchase, the director now directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $19.50 per share, with a total value of $58,500.00. Following the acquisition, the director now directly owns 156,706 shares in the company, valued at $3,055,767. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the purchase, the director now owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Insiders have bought 15,004 shares of company stock worth $292,878 over the last 90 days. Company insiders own 1.53% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after acquiring an additional 68,211 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Texas Capital Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after acquiring an additional 80,311 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 valued at $71,515,000 after acquiring an additional 547,336 shares in the last quarter. Heartland Advisors Inc. raised its position in shares of Texas Capital Bancshares by 7.8% during the 4th quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock valued at $54,442,000 after acquiring an additional 59,132 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Texas Capital Bancshares by 8.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock worth $46,551,000 after buying an additional 56,495 shares during the period. 96.88% of the stock is 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.