Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $73.00 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by investment analysts at Hovde Group from $66.00 to $73.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 2.89% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Wedbush increased their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Truist Financial raised their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, DA Davidson raised their target price on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $69.20.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $70.95 on Monday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.02 and a beta of 1.13. The stock’s 50 day moving average is $65.64 and its 200-day moving average is $61.74. Texas Capital Bancshares has a twelve month low of $52.89 and a twelve month high of $74.57. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period in the previous year, the company posted $1.33 earnings per share. Sell-side analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $400,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $400,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the purchase, the director now owns 12,794 shares in the company, valued at $263,812.28. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $35,120,000. Rafferty Asset Management LLC raised its holdings in shares of Texas Capital Bancshares by 144.5% during the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after buying an additional 72,782 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at about $675,000. Goldman Sachs Group Inc. raised its holdings in shares of Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after buying an additional 161,643 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its holdings in shares of Texas Capital Bancshares by 24.2% during the 1st quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after buying an additional 28,650 shares in the last quarter. Institutional investors 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.