Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives $74.69 Consensus Price Target from Analysts

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.69.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. 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 note on Wednesday, November 6th. Finally, Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th.

Texas Capital Bancshares Stock Up 1.1 %

Texas Capital Bancshares stock opened at $77.65 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 431.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The business’s 50-day moving average price is $83.10 and its 200 day moving average price is $71.24. 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 (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during the quarter, compared to analyst estimates of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 4.15 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were acquired 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 directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after purchasing an additional 13,022 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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 during the last quarter. AQR Capital Management LLC lifted 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 purchasing an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after acquiring an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. increased its stake 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 valued at $34,392,000 after purchasing an additional 171,263 shares during the last quarter. 96.88% of the stock is 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.