JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by JPMorgan Chase & Co. from $86.00 to $81.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Several other equities research analysts also recently commented on TCBI. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Tuesday, September 17th. Barclays increased their price target on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Hovde Group lifted their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their target price for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Finally, Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.75.

Texas Capital Bancshares Trading Down 0.1 %

NASDAQ TCBI opened at $76.64 on Tuesday. Texas Capital Bancshares has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average price is $83.04 and its 200-day moving average price is $72.96. The stock has a market cap of $3.54 billion, a P/E ratio of 425.78, a P/E/G ratio of 0.80 and a beta of 1.17.

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

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.99% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Algert Global LLC grew its holdings in Texas Capital Bancshares by 367.3% during the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock valued at $1,595,000 after buying an additional 17,540 shares in the last quarter. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 87.0% during the second 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 in the last quarter. Jane Street Group LLC increased its holdings in Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after acquiring an additional 68,632 shares during the last quarter. TD Asset Management Inc lifted its stake in Texas Capital Bancshares by 26.6% in the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock worth $2,096,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Texas Capital Bancshares by 8.5% during the 2nd quarter. Sei Investments Co. now owns 152,887 shares of the bank’s stock valued at $9,347,000 after purchasing an additional 12,041 shares during the last quarter. 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.