Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $81.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price objective lowered by analysts at JPMorgan Chase & Co. from $86.00 to $81.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 5.63% from the company's previous close.

Several other brokerages have also issued reports on TCBI. Piper Sandler lowered shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. DA Davidson increased their price target on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. StockNews.com upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Raymond James raised Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 target price for the company in a research note on Tuesday, September 17th. Finally, Wedbush reaffirmed a "sector perform" rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $74.75.

Texas Capital Bancshares Trading Down 1.2 %

NASDAQ TCBI traded down $0.91 on Tuesday, reaching $76.68. The company had a trading volume of 411,283 shares, compared to its average volume of 296,346. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 426.00, a PEG ratio of 0.80 and a beta of 1.17. The stock's 50 day moving average is $83.08 and its 200-day moving average is $72.78.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Equities analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 20,000 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.99% of the company's stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of TCBI. Algert Global LLC increased its position in Texas Capital Bancshares by 367.3% during the third quarter. Algert Global LLC now owns 22,316 shares of the bank's stock worth $1,595,000 after buying an additional 17,540 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank's stock worth $65,219,000 after acquiring an additional 506,094 shares during the last quarter. Jane Street Group LLC raised its stake in Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank's stock valued at $9,481,000 after acquiring an additional 68,632 shares during the period. TD Asset Management Inc lifted its holdings in Texas Capital Bancshares by 26.6% during the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank's stock valued at $2,096,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Texas Capital Bancshares by 8.5% during the second quarter. Sei Investments Co. now owns 152,887 shares of the bank's stock worth $9,347,000 after purchasing an additional 12,041 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.