Texas Capital Bancshares (NASDAQ:TCBI) Given New $71.00 Price Target at Barclays

Texas Capital Bancshares (NASDAQ:TCBI) had its target price hoisted by Barclays from $60.00 to $71.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

TCBI has been the subject of a number of other research reports. Truist Financial increased their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the company from $51.00 to $77.00 in a report on Monday, September 9th. Finally, Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $74.69.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $87.10 on Thursday. The business’s fifty day moving average price is $80.36 and its 200-day moving average price is $69.14. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 483.89, a PEG ratio of 0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares has a 1-year low of $54.68 and a 1-year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The company had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. On average, equities analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the acquisition, the director now directly owns 84,587 shares in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % 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 hyperlink. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cim Investment Management Inc. purchased a new stake in shares of Texas Capital Bancshares during the third quarter worth about $212,000. Sanctuary Advisors LLC purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $310,000. Teachers Retirement System of The State of Kentucky grew its stake in Texas Capital Bancshares by 19.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock worth $4,045,000 after buying an additional 9,225 shares during the period. Coldstream Capital Management Inc. grew its stake in Texas Capital Bancshares by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after buying an additional 217 shares during the period. Finally, Geode Capital Management LLC grew its stake in Texas Capital Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after buying an additional 13,022 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.