Texas Capital Bancshares (NASDAQ:TCBI) Given New $87.00 Price Target at DA Davidson

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its target price trimmed by DA Davidson from $90.00 to $87.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the bank's stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $86.00 to $81.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Truist Financial boosted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Royal Bank of Canada boosted their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a "sector perform" rating in a research report on Friday, October 18th. Piper Sandler downgraded shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Finally, Wedbush reaffirmed a "sector perform" rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $76.27.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI traded up $0.50 during trading on Friday, hitting $77.45. 676,498 shares of the company were exchanged, compared to its average volume of 517,540. 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. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 430.28, a PEG ratio of 0.73 and a beta of 1.17. The firm's fifty day moving average price is $81.95 and its 200 day moving average price is $74.23.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. On average, sell-side analysts expect that Texas Capital Bancshares will post 4.08 earnings per share for the current fiscal year.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock worth $26,000 after acquiring an additional 169 shares during the period. Icon Wealth Advisors LLC purchased a new stake in shares of Texas Capital Bancshares in the third quarter worth approximately $31,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth approximately $41,000. Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth approximately $71,000. Finally, CWM LLC grew its position in Texas Capital Bancshares by 69.8% during the third quarter. CWM LLC now owns 1,611 shares of the bank's stock valued at $115,000 after purchasing an additional 662 shares in the last quarter. 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.