Texas Capital Bancshares (NASDAQ:TCBI) Given New $85.00 Price Target at Wedbush

Texas Capital Bancshares (NASDAQ:TCBI) had its target price raised by investment analysts at Wedbush from $77.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Wedbush’s price target would indicate a potential upside of 8.07% from the company’s current price.

Several other analysts also recently commented on the stock. Truist Financial upped their price objective on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a report on Monday, September 9th. Citigroup reaffirmed a “sell” rating and issued a $60.00 target price on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Piper Sandler cut shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $77.00 to $82.00 in a report on Friday. Finally, Royal Bank of Canada raised their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.19.

Texas Capital Bancshares Price Performance

TCBI traded down $1.89 during trading on Friday, hitting $78.65. 454,581 shares of the company traded hands, compared to its average volume of 423,945. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $82.25. The company has a market cap of $3.67 billion, a PE ratio of 23.81, a P/E/G ratio of 0.98 and a beta of 1.13. The stock’s 50-day simple moving average is $68.75 and its two-hundred day simple moving average is $63.32. 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 (NASDAQ:TCBI) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the purchase, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was purchased at an average price 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 $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares in the company, valued at $1,102,009.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 43,500 shares of company stock valued at $876,400. 0.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 68,211 shares in the last quarter. Wellington Management Group LLP increased its position in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after buying an additional 547,336 shares during the period. AQR Capital Management LLC increased its position 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 buying an additional 506,094 shares during the period. American Century Companies Inc. increased its position in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after buying an additional 171,263 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after buying an additional 161,643 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

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.