Texas Capital Bancshares (NASDAQ:TCBI) Lifted to Outperform at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Tuesday, FinViz reports. The firm presently has a $78.00 target price on the bank’s stock. Raymond James’ price target would suggest a potential upside of 9.60% from the company’s previous close.

A number of other equities research analysts have also issued reports on TCBI. Truist Financial raised their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Stephens raised their target price on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target on shares of Texas Capital Bancshares in a research report on Monday, September 9th. DA Davidson lifted their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.30.

Texas Capital Bancshares Price Performance

TCBI opened at $71.17 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $64.78 and its 200 day simple moving average is $61.23. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. During the same period last year, the company posted $1.33 EPS. As a group, analysts predict that Texas Capital Bancshares will post 3.43 earnings per share for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at $263,812.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings bought 15,000 shares of the company’s stock in a transaction 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 acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the purchase, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 43,500 shares of company stock worth $876,400. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in Texas Capital Bancshares in the fourth quarter worth about $35,120,000. Rafferty Asset Management LLC raised its holdings in Texas Capital Bancshares by 144.5% in the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after acquiring an additional 72,782 shares during the last quarter. First Hawaiian Bank bought a new position in Texas Capital Bancshares in the 2nd quarter valued at approximately $675,000. Trexquant Investment LP purchased a new stake in Texas Capital Bancshares during the 4th quarter valued at $3,402,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after purchasing an additional 161,643 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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.