Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $62.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective raised by Truist Financial from $61.00 to $62.00 in a research note published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. Stephens cut their target price on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a research report on Friday, April 19th. Mizuho reaffirmed a hold rating and issued a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. JPMorgan Chase & Co. cut their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research report on Thursday, April 4th. Hovde Group cut their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group cut their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating for the company in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $63.65.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $64.20 on Monday. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $66.18. The firm has a market cap of $2.99 billion, a P/E ratio of 19.45, a PEG ratio of 1.48 and a beta of 1.15. The company has a 50 day moving average of $59.82 and a 200 day moving average of $60.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The company had revenue of $256.33 million during the quarter, compared to analyst estimates of $253.27 million. As a group, research analysts expect that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $19.70 per share, for a total transaction of $59,100.00. Following the acquisition, the director now owns 153,706 shares of the company’s stock, valued at approximately $3,028,008.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert W. Stallings purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $19.70 per share, for a total transaction of $59,100.00. Following the acquisition, the director now owns 153,706 shares of the company’s stock, valued at approximately $3,028,008.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the acquisition, the director now directly owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 15,004 shares of company stock worth $292,878. Insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $35,120,000. Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares by 78.0% during the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock valued at $32,937,000 after purchasing an additional 245,074 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $873,000. Rafferty Asset Management LLC boosted its stake in shares of Texas Capital Bancshares by 144.5% during the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after purchasing an additional 72,782 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $3,402,000. 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.