Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $72.00 at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by JPMorgan Chase & Co. from $73.00 to $72.00 in a research note released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

A number of other research analysts have also issued reports on the stock. DA Davidson raised their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a neutral rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Raymond James upgraded shares of Texas Capital Bancshares from a market perform rating to an outperform rating and set a $78.00 target price on the stock in a research note on Tuesday, September 17th. Wedbush raised their target price on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the company a neutral rating in a research note on Tuesday, September 24th. Finally, Truist Financial raised their target price on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a hold rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $69.13.

Texas Capital Bancshares Stock Up 2.9 %

Texas Capital Bancshares stock opened at $75.79 on Wednesday. The company has a market capitalization of $3.50 billion, a P/E ratio of 27.36, a P/E/G ratio of 0.94 and a beta of 1.13. The firm’s fifty day simple moving average is $67.16 and its 200-day simple moving average is $62.85. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $76.26.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The business had revenue of $472.49 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $1.33 EPS. Sell-side analysts forecast that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the transaction, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the transaction, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings bought 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 43,500 shares of company stock worth $876,400 in the last ninety days. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in Texas Capital Bancshares during the 3rd quarter valued at about $440,000. CWM LLC lifted its holdings in Texas Capital Bancshares by 69.8% during the 3rd quarter. CWM LLC now owns 1,611 shares of the bank’s stock valued at $115,000 after purchasing an additional 662 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Texas Capital Bancshares by 47.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,723 shares of the bank’s stock valued at $909,000 after purchasing an additional 4,100 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Texas Capital Bancshares by 9.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock valued at $2,897,000 after purchasing an additional 4,124 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Texas Capital Bancshares during the 2nd quarter valued at about $2,704,000. 96.88% of the stock is owned by institutional investors.

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.