Texas Capital Bancshares (NASDAQ:TCBI) Given New $97.00 Price Target at Stephens

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by stock analysts at Stephens from $102.00 to $97.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Stephens’ price objective points to a potential upside of 24.32% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Truist Financial increased their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Barclays lifted their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Finally, Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $77.73.

Texas Capital Bancshares Stock Down 0.8 %

Shares of Texas Capital Bancshares stock traded down $0.66 during midday trading on Tuesday, hitting $78.03. The company had a trading volume of 36,217 shares, compared to its average volume of 487,016. The company has a 50 day moving average of $81.61 and a 200 day moving average of $74.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $3.61 billion, a P/E ratio of 432.28, a P/E/G ratio of 0.73 and a beta of 1.17. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, equities analysts predict that Texas Capital Bancshares will post 4.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after acquiring an additional 169 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Texas Capital Bancshares during the 3rd quarter worth approximately $31,000. R Squared Ltd acquired a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $41,000. Meeder Asset Management Inc. purchased a new position in Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. Finally, CWM LLC raised its holdings in shares of Texas Capital Bancshares by 69.8% during the third quarter. CWM LLC now owns 1,611 shares of the bank’s stock worth $115,000 after purchasing an additional 662 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

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.