Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $77.00 at Wedbush

Texas Capital Bancshares (NASDAQ:TCBI) had its price target upped by Wedbush from $70.00 to $77.00 in a research note issued to investors on Tuesday, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q3 2024 earnings at $1.05 EPS, FY2024 earnings at $3.42 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.43 EPS, FY2025 earnings at $4.65 EPS and FY2026 earnings at $5.00 EPS.

Several other equities analysts also recently commented on TCBI. Hovde Group upped their price target on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a market perform rating in a research note on Monday, September 23rd. Jefferies Financial Group cut 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 raised 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. Citigroup reiterated a sell rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Finally, Raymond James raised Texas Capital Bancshares from a market perform rating to an outperform rating and set a $78.00 price target on the stock in a research report on Tuesday, September 17th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $69.20.

Texas Capital Bancshares Stock Down 0.3 %

Texas Capital Bancshares stock opened at $70.47 on Tuesday. The company’s 50-day moving average price is $65.80 and its two-hundred day moving average price is $61.93. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.26 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.02 and a beta of 1.13. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $74.57.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, analysts expect that Texas Capital Bancshares will post 3.44 EPS for the current year.

Insider Transactions at Texas Capital Bancshares

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

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares in the last quarter. Norges Bank acquired a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $35,120,000. AQR Capital Management LLC boosted its position in Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after buying an additional 506,094 shares during the period. Millennium Management LLC grew its holdings in Texas Capital Bancshares by 146.7% during 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 position in Texas Capital Bancshares in the 2nd quarter valued at approximately $11,489,000. Institutional investors and hedge funds 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.