Texas Capital Bancshares (NASDAQ:TCBI) Price Target Increased to $77.00 by Analysts at Wedbush

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its price objective hoisted by Wedbush from $70.00 to $77.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the bank's stock.

Other analysts also recently issued research reports about the stock. DA Davidson upped their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a neutral rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an underweight rating in a report on Monday, September 9th. Keefe, Bruyette & Woods restated an outperform rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Raymond James upgraded shares of Texas Capital Bancshares from a market perform rating to an outperform rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of Hold and a consensus target price of $69.20.

Texas Capital Bancshares Trading Down 1.1 %

Texas Capital Bancshares stock traded down $0.76 during trading on Tuesday, hitting $70.95. The company had a trading volume of 437,977 shares, compared to its average volume of 425,698. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $74.57. The company's 50 day simple moving average is $65.64 and its 200-day simple moving average is $61.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the previous year, the firm earned $1.33 earnings per share. As a group, analysts expect that Texas Capital Bancshares will post 3.43 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings purchased 15,000 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $400,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 15,000 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company's stock, valued at $400,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings bought 14,000 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now owns 55,294 shares in the company, valued at $1,102,009.42. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Texas Capital Bancshares by 9.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank's stock worth $2,897,000 after purchasing an additional 4,124 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Texas Capital Bancshares during the second quarter worth $2,704,000. Algert Global LLC bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at $292,000. Millennium Management LLC raised its stake in shares of Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after buying an additional 221,454 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank's stock valued at $23,323,000 after buying an additional 38,393 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

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.