Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $81.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by JPMorgan Chase & Co. from $86.00 to $81.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other research analysts have also recently weighed in on TCBI. DA Davidson lifted their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday, September 17th. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Hovde Group upped their price target 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. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.75.

Texas Capital Bancshares Price Performance

TCBI stock opened at $76.68 on Tuesday. The stock’s fifty day simple moving average is $83.06 and its 200-day simple moving average is $72.91. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 426.00, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Equities research analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current year.

Insider Activity at Texas Capital Bancshares

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBI. AQR Capital Management LLC grew its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after buying an additional 221,454 shares during the period. American Century Companies Inc. grew its holdings 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 during the period. Wellington Management Group LLP raised its position in Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after acquiring an additional 150,301 shares in the last quarter. Finally, Jane Street Group LLC lifted 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. 96.88% of the stock is owned by institutional investors and hedge funds.

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.