Hovde Group Boosts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $79.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective boosted by stock analysts at Hovde Group from $73.00 to $79.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price indicates a potential downside of 1.91% from the stock’s current price.

TCBI has been the subject of several other reports. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the company from $77.00 to $82.00 in a report on Friday. 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 report on Tuesday, September 17th. Truist Financial lifted their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price target for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Finally, DA Davidson lifted their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.31.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $80.54 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $82.25. The firm’s fifty day moving average price is $68.75 and its 200 day moving average price is $63.32.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the prior year, the company earned $1.33 earnings per share. On average, sell-side analysts expect that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $20.46 per share, with a total value of $204,600.00. Following the purchase, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Stallings bought 15,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 43,500 shares of company stock valued at $876,400 over the last 90 days. Insiders own 1.53% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares in the last quarter. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 97.9% in the 4th 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. AQR Capital Management LLC boosted its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after acquiring an additional 171,263 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares during the last quarter. Hedge funds and other 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.