Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for Texas Capital Bancshares (NASDAQ:TCBI)

Keefe, Bruyette & Woods reissued their outperform rating on shares of Texas Capital Bancshares (NASDAQ:TCBI) in a report published on Monday, Benzinga reports. They currently have a $74.00 price objective on the bank’s stock.

A number of other brokerages have also recently issued reports on TCBI. Citigroup reaffirmed a sell rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Jefferies Financial Group lowered their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an underweight rating in a research report on Tuesday, July 23rd. Wedbush raised their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a neutral rating in a research report on Friday, July 19th. Finally, Stephens boosted their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares currently has an average rating of Hold and a consensus target price of $66.77.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $68.21 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $3.15 billion, a PE ratio of 20.67, a PEG ratio of 3.05 and a beta of 1.13. The firm’s 50 day moving average price is $64.33 and its 200 day moving average price is $61.01. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The business had revenue of $472.49 million for the quarter, compared to the consensus estimate 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 business posted $1.33 EPS. As a group, research analysts expect that Texas Capital Bancshares will post 3.31 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

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

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter worth approximately $26,000. CWM LLC raised 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 purchasing an additional 546 shares during the last quarter. Mather Group LLC. acquired a new position in Texas Capital Bancshares in the first quarter worth $50,000. Fidelis Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares during the first quarter worth $54,000. Finally, TFO Wealth Partners LLC increased 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 buying an additional 2,475 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

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.