JPMorgan Chase & Co. Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price upped by JPMorgan Chase & Co. from $70.00 to $73.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

TCBI has been the topic of a number of other research reports. Jefferies Financial Group decreased their target price on Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. 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 report on Friday, July 19th. Bank of America upgraded shares of Texas Capital Bancshares from an underperform rating to a buy rating and lifted their target price for the company from $51.00 to $77.00 in a research report on Monday. Truist Financial upped their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a hold rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $66.77.

Texas Capital Bancshares Stock Up 0.6 %

TCBI opened at $68.21 on Monday. The company has a fifty day moving average of $64.33 and a two-hundred day moving average of $61.01. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 3.05 and a beta of 1.13. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $72.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, research analysts expect that Texas Capital Bancshares will post 3.31 earnings per share for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the transaction, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares in the company, valued at $263,812.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the acquisition, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 43,500 shares of company stock valued at $876,400. 0.99% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at $26,000. CWM LLC grew its position in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. purchased a new stake in Texas Capital Bancshares during the first quarter worth about $50,000. Fidelis Capital Partners LLC acquired a new stake in shares of Texas Capital Bancshares during the first quarter worth about $54,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after purchasing an additional 2,475 shares during the period. Hedge funds and other 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.