Wedbush Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $77.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price hoisted by Wedbush from $70.00 to $77.00 in a report issued on Tuesday morning, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q3 2024 earnings at $1.05 EPS, FY2024 earnings at $3.42 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.43 EPS, FY2025 earnings at $4.65 EPS and FY2026 earnings at $5.00 EPS.

TCBI has been the subject of a number of other reports. Bank of America raised Texas Capital Bancshares from an underperform rating to a buy rating and boosted their price objective for the stock from $51.00 to $77.00 in a report on Monday, September 9th. DA Davidson upped their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a neutral rating in a report on Monday, September 9th. 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. Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the stock a market perform rating in a report on Monday. Finally, Jefferies Financial Group lowered their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating for the company in a report on Wednesday, July 3rd. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $69.20.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $70.71 on Tuesday. The company has a market capitalization of $3.27 billion, a PE ratio of 21.43, a P/E/G ratio of 1.03 and a beta of 1.13. 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 has a twelve month low of $52.89 and a twelve month high of $74.57. The firm has a fifty day simple moving average of $65.72 and a 200 day simple moving average of $61.86.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million during the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, sell-side analysts forecast that Texas Capital Bancshares will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares in the company, valued at $640,275.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $20.46 per share, with a total value of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at $640,275.24. 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 bought 4,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the acquisition, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Insiders purchased a total of 43,500 shares of company stock worth $876,400 over the last quarter. 0.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the last quarter. Norges Bank purchased a new stake in Texas Capital Bancshares in the fourth quarter worth $35,120,000. AQR Capital Management LLC increased its stake in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the period. Millennium Management LLC lifted its position in shares of Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at $11,489,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.