JPMorgan Chase & Co. Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $86.00 to $81.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.69% from the stock’s current price.

TCBI has been the topic of several other reports. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 17th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $77.00 to $82.00 in a report on Friday, October 18th. Truist Financial raised their price objective on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.75.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $76.64 on Tuesday. The company has a market capitalization of $3.54 billion, a PE ratio of 425.78, a PEG ratio of 0.80 and a beta of 1.17. 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 company’s 50 day moving average price is $83.05 and its 200 day moving average price is $72.94. 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 issued its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Research analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in TCBI. AQR Capital Management LLC raised its holdings 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 acquiring an additional 506,094 shares in the last quarter. Millennium Management LLC raised its stake 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 purchasing an additional 221,454 shares in the last quarter. American Century Companies Inc. lifted its position in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares during the period. Wellington Management Group LLP lifted 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 purchasing an additional 150,301 shares during the period. Finally, Jane Street Group LLC increased 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 buying an additional 68,632 shares during the period. Institutional investors 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.