Texas Capital Bancshares (NASDAQ:TCBI) Price Target Increased to $80.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its target price increased by JPMorgan Chase & Co. from $72.00 to $80.00 in a report issued on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Several other equities research analysts have also weighed in on TCBI. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $77.00 to $82.00 in a research note on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Stephens raised their price objective 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. Wedbush raised their price objective on Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, 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. Five 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’s stock. Based on data from MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $73.19.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $79.02 on Friday. The stock has a fifty day moving average price of $69.13 and a two-hundred day moving average price of $63.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $3.69 billion, a P/E ratio of 23.95, 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 $82.25.

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 the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.33 earnings per share. Research analysts forecast that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the acquisition, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the acquisition, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 4,000 shares of the business’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 acquisition, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 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

Institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank bought a new position in Texas Capital Bancshares during the second quarter valued at about $675,000. Goldman Sachs Group Inc. increased its stake 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 worth $35,185,000 after purchasing an additional 161,643 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Texas Capital Bancshares by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after purchasing an additional 28,650 shares during the period. AQR Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Texas Capital Bancshares by 73.0% in the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after purchasing an additional 10,752 shares during the period. 96.88% of the stock is currently 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.