Hovde Group Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price upped by Hovde Group from $66.00 to $73.00 in a research report report published on Monday, MarketBeat reports. They currently have a market perform rating on the bank’s stock.

Several other analysts have also recently commented on TCBI. Raymond James raised shares of Texas Capital Bancshares from a market perform rating to an outperform rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. DA Davidson boosted their price objective on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a neutral rating in a research note on Monday, September 9th. Wedbush boosted their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a neutral rating in a research note on Friday, July 19th. Truist Financial boosted their price objective 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. Finally, Stephens boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an overweight rating in a research note on Friday, July 19th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $69.20.

Texas Capital Bancshares Stock Down 1.3 %

TCBI stock opened at $70.02 on Monday. The stock has a market capitalization of $3.23 billion, a P/E ratio of 21.22, a PEG ratio of 1.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $74.57. The company has a 50 day moving average price of $65.62 and a two-hundred day moving average price of $61.80.

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

Insiders Place Their Bets

In related news, Director Robert W. Stallings bought 14,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now owns 55,294 shares in the company, valued at approximately $1,102,009.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert W. Stallings acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $400,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings acquired 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the acquisition, the director now owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 43,500 shares of company stock valued at $876,400. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TCBI. Vanguard Group Inc. raised its position in Texas Capital Bancshares by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after acquiring an additional 68,211 shares in the last quarter. Wellington Management Group LLP raised its position in 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 worth $71,515,000 after acquiring an additional 547,336 shares in the last quarter. AQR Capital Management LLC raised its position 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 worth $65,219,000 after acquiring an additional 506,094 shares in the last quarter. American Century Companies Inc. raised its position in Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the period. Institutional investors and hedge funds 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.