Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $86.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its target price raised by Truist Financial from $80.00 to $86.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 11.69% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday. Barclays boosted their price target on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $82.00 in a report on Friday. Royal Bank of Canada raised their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.56.

Texas Capital Bancshares Stock Down 2.6 %

Shares of TCBI traded down $2.02 during midday trading on Monday, hitting $77.00. The stock had a trading volume of 78,967 shares, compared to its average volume of 424,560. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 427.78, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a 50 day simple moving average of $69.13 and a two-hundred day simple moving average of $63.53. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $82.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The firm had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. During the same period in the prior year, the business posted $1.33 EPS. On average, analysts anticipate that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 10,000 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the transaction, the director now directly owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This represents a 0.00 % 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 link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 14,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 43,500 shares of company stock valued at $876,400. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares in the last quarter. Millennium Management LLC raised its position in 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 during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $11,489,000. American Century Companies Inc. grew its holdings in shares of Texas Capital Bancshares by 43.8% during 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 last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Texas Capital Bancshares by 1,905.7% in the second quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock valued at $4,822,000 after buying an additional 74,932 shares during the period. Institutional investors and hedge funds 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.