TD Cowen Forecasts Strong Price Appreciation for Texas Capital Bancshares (NASDAQ:TCBI) Stock

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective boosted by investment analysts at TD Cowen from $100.00 to $104.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. TD Cowen‘s price target suggests a potential upside of 3.84% from the stock’s current price.

A number of other brokerages have also recently commented on TCBI. Raymond James Financial lowered their price target on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. DA Davidson set a $105.00 target price on Texas Capital Bancshares in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, October 1st. Stephens reduced their price target on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, Barclays upgraded shares of Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $104.67.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $100.15 on Friday. The firm has a market cap of $4.35 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.99 and a beta of 0.63. Texas Capital Bancshares has a 12 month low of $81.26 and a 12 month high of $108.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average price is $95.47 and its 200-day moving average price is $98.96.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 21st. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.39. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 10.92%. The business had revenue of $356.60 million during the quarter, compared to the consensus estimate of $339.89 million. On average, equities research analysts expect that Texas Capital Bancshares will post 7.40 earnings per share for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth $1,683,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at approximately $4,228,000. Quantinno Capital Management LP lifted its holdings in Texas Capital Bancshares by 288.1% in the first quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank’s stock valued at $3,295,000 after acquiring an additional 25,781 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter worth $47,997,000. Finally, BlackRock Inc. acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $578,148,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.