Barclays Forecasts Strong Price Appreciation for Texas Capital Bancshares (NASDAQ:TCBI) Stock

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective lifted by Barclays from $70.00 to $78.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays‘s price objective indicates a potential downside of 10.01% from the company’s previous close.

Several other analysts have also recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a “hold” rating in a report on Wednesday, May 21st. Stephens reduced their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Hovde Group reduced their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. raised their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.43.

Texas Capital Bancshares Stock Up 0.5%

Texas Capital Bancshares stock opened at $86.68 on Tuesday. Texas Capital Bancshares has a twelve month low of $56.24 and a twelve month high of $91.80. The stock has a 50 day moving average of $75.91 and a two-hundred day moving average of $75.23. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 0.96 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. The company had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. As a group, research analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 29,800 shares of company stock valued at $1,059,205 over the last ninety days. 1.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in Texas Capital Bancshares by 1,575.0% in the fourth quarter. US Bancorp DE now owns 10,519 shares of the bank’s stock valued at $823,000 after acquiring an additional 9,891 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Texas Capital Bancshares by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 572,539 shares of the bank’s stock worth $44,773,000 after acquiring an additional 1,700 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Texas Capital Bancshares by 37.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank’s stock worth $7,538,000 after acquiring an additional 26,294 shares in the last quarter. Assetmark Inc. bought a new stake in Texas Capital Bancshares in the fourth quarter valued at about $32,000. Finally, Proficio Capital Partners LLC bought a new stake in Texas Capital Bancshares in the fourth quarter valued at about $1,688,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.