Texas Capital Bancshares (NASDAQ:TCBI) Trading 3.6% Higher Following Analyst Upgrade

Texas Capital Bancshares, Inc. (NASDAQ:TCBIGet Rating)’s stock price traded up 3.6% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $65.00 to $68.00. Truist Financial currently has a buy rating on the stock. Texas Capital Bancshares traded as high as $63.30 and last traded at $62.90. 7,677 shares changed hands during trading, a decline of 98% from the average session volume of 391,312 shares. The stock had previously closed at $60.69.

A number of other analysts have also recently issued reports on TCBI. Stephens boosted their target price on Texas Capital Bancshares to $66.00 in a report on Friday, July 22nd. Bank of America cut Texas Capital Bancshares from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $57.00 to $55.00 in a report on Thursday, September 8th. StockNews.com cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, July 30th. Raymond James boosted their target price on Texas Capital Bancshares from $70.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Finally, Jefferies Financial Group upped their price target on Texas Capital Bancshares from $51.00 to $52.00 in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.29.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 2,430 shares of the business’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $22.54 per share, with a total value of $54,772.20. Following the transaction, the director now directly owns 2,340 shares in the company, valued at approximately $52,743.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert W. Stallings purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were acquired at an average cost of $56.82 per share, with a total value of $113,640.00. Following the transaction, the director now owns 132,725 shares in the company, valued at approximately $7,541,434.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert W. Stallings purchased 2,430 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $22.54 per share, for a total transaction of $54,772.20. Following the completion of the transaction, the director now owns 2,340 shares in the company, valued at approximately $52,743.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 57,805 shares of company stock valued at $3,230,924 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Bay Advisors LLC raised its position in shares of Texas Capital Bancshares by 65.9% during the 2nd quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank’s stock valued at $38,000 after acquiring an additional 286 shares in the last quarter. Quent Capital LLC grew its stake in Texas Capital Bancshares by 157.5% during the 1st quarter. Quent Capital LLC now owns 837 shares of the bank’s stock worth $48,000 after buying an additional 512 shares during the last quarter. Exane Derivatives bought a new position in Texas Capital Bancshares during the 1st quarter worth $108,000. Carl Stuart Investment Advisor Inc. bought a new position in Texas Capital Bancshares during the 1st quarter worth $115,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Texas Capital Bancshares during the 1st quarter worth $210,000. 99.44% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Performance

The stock has a market capitalization of $3.10 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.23 and a beta of 1.50. The stock has a 50 day moving average of $59.24 and a 200 day moving average of $56.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.02.

Texas Capital Bancshares (NASDAQ:TCBIGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. During the same period in the prior year, the company earned $1.31 EPS. Equities analysts predict that Texas Capital Bancshares, Inc. will post 3.42 EPS for the current year.

About Texas Capital Bancshares

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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, and wealth management services.

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