Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $95.00 price objective on the bank's stock, down from their prior price objective of $100.00. Keefe, Bruyette & Woods' price objective points to a potential upside of 20.33% from the stock's previous close.
TCBI has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, January 24th. Barclays upped their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an "underweight" rating in a report on Thursday, December 5th. Piper Sandler cut shares of Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $77.00 to $82.00 in a report on Friday, October 18th. Wedbush restated a "sector perform" rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd. Three 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 company's stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus target price of $79.13.
Get Our Latest Report on Texas Capital Bancshares
Texas Capital Bancshares Trading Down 0.4 %
Shares of NASDAQ:TCBI traded down $0.35 during trading on Wednesday, reaching $78.95. 369,049 shares of the company traded hands, compared to its average volume of 460,022. The company has a current ratio of 1.00, a quick 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 business's fifty day moving average is $81.05 and its 200-day moving average is $74.93. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 61.68, a P/E/G ratio of 0.69 and a beta of 1.17.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, analysts forecast that Texas Capital Bancshares will post 5.82 EPS for the current year.
Insider Buying and Selling at Texas Capital Bancshares
In other news, Director Robert W. Stallings bought 2,006 shares of the company's stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the purchase, the director now owns 182,899 shares in the company, valued at approximately $3,839,050.01. This represents a 1.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 8,402 shares of company stock worth $213,837. 0.99% of the stock is owned by insiders.
Hedge Funds Weigh In On Texas Capital Bancshares
A number of hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after acquiring an additional 221,454 shares during the period. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank's stock worth $80,265,000 after purchasing an additional 150,301 shares during the period. Jane Street Group LLC raised its stake in Texas Capital Bancshares by 107.2% during the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank's stock valued at $9,481,000 after buying an additional 68,632 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Texas Capital Bancshares by 32.5% during the 4th quarter. Hodges Capital Management Inc. now owns 252,973 shares of the bank's stock valued at $19,782,000 after buying an additional 62,030 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Texas Capital Bancshares by 326.6% in the 3rd quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank's stock worth $5,010,000 after buying an additional 53,669 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
Texas Capital Bancshares Company Profile
(
Get Free Report)
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.
Further Reading
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