Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $70.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its price target boosted by equities research analysts at Truist Financial from $62.00 to $70.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 4.00% from the stock’s previous close.

Several other research firms have also recently commented on TCBI. Royal Bank of Canada cut their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Mizuho restated a “hold” rating and issued a $66.00 price objective (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Stephens increased their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Wedbush increased their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $65.19.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $67.31 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $60.80 and a 200 day simple moving average of $60.22. The company has a market cap of $3.11 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.68 and a beta of 1.15. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts predict that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average price of $19.36 per share, with a total value of $58,080.00. Following the purchase, the director now owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert W. Stallings acquired 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the purchase, the director now directly owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the purchase, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 15,004 shares of company stock valued at $292,878. 0.99% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC raised its holdings in Texas Capital Bancshares by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after buying an additional 175 shares during the period. Retirement Systems of Alabama raised its holdings in Texas Capital Bancshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after buying an additional 208 shares during the period. CWM LLC raised its holdings in Texas Capital Bancshares by 40.8% during the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares during the period. ProShare Advisors LLC raised its holdings in shares of Texas Capital Bancshares by 3.3% in the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after purchasing an additional 344 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares during the last quarter. 96.88% of the stock is currently 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.