Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lifted by Hovde Group from $66.00 to $73.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. Hovde Group currently has a market perform rating on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial increased 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 note on Friday, September 20th. Wedbush lifted their target price on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a neutral rating in a research report on Friday, July 19th. DA Davidson increased their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a neutral rating in a report on Monday, September 9th. Raymond James upgraded shares of Texas Capital Bancshares from a market perform rating to an outperform rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Citigroup reaffirmed a sell rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of Hold and an average target price of $69.20.

Texas Capital Bancshares Stock Up 1.0 %

TCBI opened at $70.71 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $74.57. The company has a market cap of $3.27 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.13. The company has a 50-day moving average price of $65.72 and a 200 day moving average price of $61.86.

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 the consensus estimate 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 firm had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter last year, the business earned $1.33 EPS. Sell-side analysts expect that Texas Capital Bancshares will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The shares were bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was bought 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 owns 31,294 shares in the company, valued at approximately $640,275.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were bought at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock valued at $876,400 in the last quarter. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC raised its holdings in Texas Capital Bancshares by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,540 shares of the bank’s stock worth $828,000 after buying an additional 257 shares during the period. CWM LLC raised its holdings in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after acquiring an additional 275 shares during the period. ProShare Advisors LLC lifted its position in shares of Texas Capital Bancshares by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after acquiring an additional 344 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter valued at approximately $26,000. Finally, AlphaMark Advisors LLC boosted its stake in Texas Capital Bancshares by 11.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 5,257 shares of the bank’s stock worth $321,000 after purchasing an additional 546 shares during the period. 96.88% of the stock is 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.