Barclays Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $60.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lifted by Barclays from $49.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities analysts have also weighed in on TCBI. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $82.00 in a research note on Friday. Citigroup reiterated a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research report on Tuesday, September 17th. Jefferies Financial Group cut their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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 company has a 50 day simple moving average of $69.13 and a two-hundred day simple moving average of $63.53. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 0.98 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $82.25.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) 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 business had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, analysts predict that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 15,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $400,000. This represents a 300.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of the stock in a transaction on Thursday, July 25th. The shares were bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the purchase, the director now directly owns 12,794 shares in the company, valued at $263,812.28. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 43,500 shares of company stock worth $876,400 in the last 90 days. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of TCBI. Blue Trust Inc. raised its holdings in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Texas Capital Bancshares by 2.6% in the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock valued at $386,000 after purchasing an additional 139 shares in the last quarter. Creative Planning acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $440,000. CWM LLC lifted its position in 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 buying an additional 662 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Texas Capital Bancshares by 47.5% during the third quarter. Handelsbanken Fonder AB now owns 12,723 shares of the bank’s stock worth $909,000 after buying an additional 4,100 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.