Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives $74.69 Consensus Target Price from Brokerages

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) have received a consensus rating of "Hold" from the sixteen research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.69.

A number of research firms recently commented on TCBI. Bank of America raised shares of Texas Capital Bancshares from an "underperform" rating to a "buy" rating and increased their target price for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Royal Bank of Canada increased their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a "sector perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. Piper Sandler cut Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and raised their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Finally, StockNews.com raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th.

Texas Capital Bancshares Stock Performance

TCBI traded down $0.01 during midday trading on Friday, reaching $76.77. The company had a trading volume of 1,049,410 shares, compared to its average volume of 430,633. The company has a market cap of $3.55 billion, a P/E ratio of 426.50, a P/E/G ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares has a 1 year low of $54.68 and a 1 year high of $91.80. The business has a 50-day moving average of $83.10 and a two-hundred day moving average of $71.05. 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 (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, topping the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to analysts' expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, equities research analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the purchase, the director now directly owns 84,587 shares of the company's stock, valued at $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.99% of the company's stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds have recently made changes to their positions in the stock. Cim Investment Management Inc. purchased a new position in Texas Capital Bancshares in the third quarter worth about $212,000. Sanctuary Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth $310,000. Teachers Retirement System of The State of Kentucky raised its holdings in Texas Capital Bancshares by 19.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank's stock valued at $4,045,000 after buying an additional 9,225 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Texas Capital Bancshares by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $309,000 after buying an additional 217 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Texas Capital Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank's stock valued at $81,856,000 after buying an additional 13,022 shares in the last quarter. 96.88% of the stock is 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.