Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $62.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective boosted by Truist Financial from $61.00 to $62.00 in a research report released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating for the company in a report on Monday, April 22nd. 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. Stephens lowered their target price on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a report on Friday, April 19th. Wedbush lowered their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a report on Friday, April 19th. Finally, Jefferies Financial Group lowered their target price 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. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $63.65.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $62.33 on Monday. The stock’s 50 day simple moving average is $59.73 and its two-hundred day simple moving average is $60.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.48 and a beta of 1.15. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $66.18.

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

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $19.70 per share, for a total transaction of $59,100.00. Following the transaction, the director now owns 153,706 shares of the company’s stock, valued at $3,028,008.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert W. Stallings bought 6,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the purchase, the director now directly owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $19.70 per share, for a total transaction of $59,100.00. Following the completion of the purchase, the director now owns 153,706 shares of the company’s stock, valued at approximately $3,028,008.20. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 15,004 shares of company stock worth $292,878. Insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently bought and sold shares of TCBI. CWM LLC grew its holdings in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after purchasing an additional 275 shares during the last quarter. First Hawaiian Bank acquired a new position in Texas Capital Bancshares during the second quarter valued at $675,000. Teachers Retirement System of The State of Kentucky lifted its position in Texas Capital Bancshares by 154.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 43,257 shares of the bank’s stock valued at $2,663,000 after purchasing an additional 26,273 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Texas Capital Bancshares by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,357 shares of the bank’s stock worth $1,807,000 after acquiring an additional 1,494 shares during the period. Finally, Gabelli Funds LLC acquired a new position in shares of Texas Capital Bancshares in the first quarter worth about $400,000. 96.88% of the stock is owned by hedge funds and other 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.