DA Davidson Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective raised by DA Davidson from $73.00 to $81.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other analysts have also commented on TCBI. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their target price for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a report on Monday, September 9th. Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Royal Bank of Canada increased their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock traded down $1.19 during midday trading on Friday, hitting $76.76. The company’s stock had a trading volume of 227,485 shares, compared to its average volume of 423,738. Texas Capital Bancshares has a 12 month low of $53.16 and a 12 month high of $82.25. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.58 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13. The stock’s 50-day moving average price is $70.86 and its 200-day moving average price is $64.10.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $19.93 per share, for a total transaction of $279,020.00. Following the acquisition, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Robert W. Stallings purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 14,000 shares of Texas Capital Bancshares stock in a transaction dated 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 in the company, valued at $1,102,009.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 59,000 shares of company stock worth $1,209,220. 0.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its stake in shares of Texas Capital Bancshares by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after purchasing an additional 180 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Texas Capital Bancshares by 1.1% in the third quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock worth $1,631,000 after purchasing an additional 244 shares in the last quarter. Blue Trust Inc. increased its position in Texas Capital Bancshares by 89.9% during the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after buying an additional 169 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in Texas Capital Bancshares by 2.6% during the third quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock valued at $386,000 after buying an additional 139 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Texas Capital Bancshares in the third quarter worth about $440,000. 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.