Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $105.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective increased by JPMorgan Chase & Co. from $92.00 to $105.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

A number of other equities analysts have also recently commented on TCBI. DA Davidson reaffirmed a “neutral” rating and set a $91.00 price target on shares of Texas Capital Bancshares in a research note on Thursday, November 20th. Barclays upped their target price on Texas Capital Bancshares from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Tuesday, November 11th. TD Cowen upgraded shares of Texas Capital Bancshares to a “hold” rating in a report on Thursday, September 25th. Weiss Ratings upgraded Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 31st. Finally, Piper Sandler upped their price target on shares of Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.40.

Texas Capital Bancshares Trading Down 0.5%

Shares of NASDAQ:TCBI opened at $92.86 on Tuesday. Texas Capital Bancshares has a 52-week low of $59.37 and a 52-week high of $98.07. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $87.38 and its two-hundred day simple moving average is $84.75.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The company had revenue of $340.35 million for the quarter, compared to analysts’ expectations of $327.13 million. During the same quarter last year, the business earned ($1.41) EPS. The firm’s revenue was up 171.6% compared to the same quarter last year. Analysts expect that Texas Capital Bancshares will post 5.84 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 10,000 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of $20.61 per share, for a total transaction of $206,100.00. Following the acquisition, the director directly owned 265,913 shares of the company’s stock, valued at $5,480,466.93. The trade was a 3.91% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently modified their holdings of TCBI. AQR Capital Management LLC raised its holdings in Texas Capital Bancshares by 84.8% in the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock valued at $105,395,000 after acquiring an additional 657,630 shares in the last quarter. Norges Bank acquired a new position in Texas Capital Bancshares during the 2nd quarter worth $45,364,000. Azora Capital LP increased its position in shares of Texas Capital Bancshares by 141.3% in the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Texas Capital Bancshares by 2,707.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after purchasing an additional 336,506 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Texas Capital Bancshares by 731.5% during the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock worth $24,923,000 after purchasing an additional 259,380 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.