JPMorgan Chase & Co. Has Lowered Expectations for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by analysts at JPMorgan Chase & Co. from $86.00 to $81.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.65% from the stock’s previous close.

TCBI has been the topic of several other reports. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their target price for the company from $51.00 to $77.00 in a research report on Monday, September 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $82.00 in a report on Friday, October 18th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial boosted their price target on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $74.75.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded down $1.64 during trading on Tuesday, hitting $75.95. The company’s stock had a trading volume of 182,771 shares, compared to its average volume of 242,883. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The firm has a market cap of $3.51 billion, a P/E ratio of 421.94, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. The firm has a 50 day moving average price of $83.08 and a 200 day moving average price of $72.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The firm had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Equities research analysts forecast that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was purchased 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 in the company, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Texas Capital Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock valued at $81,856,000 after buying an additional 13,022 shares during the period. Wellington Management Group LLP raised its stake in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the period. AQR Capital Management LLC lifted its holdings in shares of 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 valued at $65,219,000 after purchasing an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after buying an additional 10,171 shares during the period. Finally, American Century Companies Inc. grew its holdings 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 worth $34,392,000 after buying an additional 171,263 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.