Texas Capital Bancshares (NASDAQ:TCBI) Given New $80.00 Price Target at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lifted by stock analysts at Truist Financial from $70.00 to $80.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would indicate a potential upside of 11.11% from the company’s current price.

TCBI has been the topic of a number of other reports. Citigroup reissued a “sell” rating and issued a $60.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $77.00 in a report on Monday, September 9th. DA Davidson upped their target price on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Wedbush lifted their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Stephens upped their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $67.97.

Texas Capital Bancshares Trading Down 2.6 %

NASDAQ:TCBI opened at $72.00 on Friday. The business has a fifty day moving average price of $65.54 and a 200-day moving average price of $61.58. 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 one year low of $52.89 and a one year high of $74.57. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The company had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. During the same period last year, the firm posted $1.33 EPS. Sell-side analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert W. Stallings purchased 14,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the acquisition, the director now directly owns 55,294 shares of the company’s stock, valued at approximately $1,102,009.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Insiders acquired 43,500 shares of company stock worth $876,400 over the last three months. 0.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares in the last quarter. Wellington Management Group LLP grew its stake in Texas Capital Bancshares by 97.9% during the 4th 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 last quarter. AQR Capital Management LLC increased its position in Texas Capital Bancshares by 87.0% during 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. lifted its stake 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 valued at $34,392,000 after buying an additional 171,263 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after acquiring an additional 161,643 shares during the period. Institutional investors and hedge funds 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.