Truist Financial Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $86.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price raised by Truist Financial from $80.00 to $86.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other brokerages have also recently commented on TCBI. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. 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 report on Friday, October 18th. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.56.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $77.95 on Monday. Texas Capital Bancshares has a 1 year low of $53.16 and a 1 year high of $82.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $70.55 and a two-hundred day moving average price of $63.98. The firm has a market cap of $3.60 billion, a P/E ratio of 433.06, a PEG ratio of 0.79 and a beta of 1.13.

Insider Activity

In related news, Director Robert W. Stallings purchased 14,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now owns 55,294 shares in the company, valued at $1,102,009.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings acquired 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the acquisition, the director now owns 55,294 shares of the company’s stock, valued at $1,102,009.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 59,000 shares of company stock worth $1,209,220 in the last 90 days. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TCBI. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $26,000. Blue Trust Inc. lifted its stake in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after acquiring an additional 169 shares during the last quarter. CWM LLC grew its position in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Texas Capital Bancshares during the 1st quarter worth $50,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Texas Capital Bancshares during the 1st quarter valued at $54,000. 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.