Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $82.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lifted by Barclays from $78.00 to $82.00 in a report issued on Friday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other brokerages have also commented on TCBI. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. Raymond James Financial decreased their price target on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Stephens decreased their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $82.50.

Texas Capital Bancshares Trading Up 0.3%

Shares of NASDAQ:TCBI opened at $89.73 on Friday. The company’s 50-day moving average price is $78.23 and its two-hundred day moving average price is $75.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares has a one year low of $56.24 and a one year high of $94.61. The stock has a market capitalization of $4.11 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.35. The company had revenue of $307.46 million for the quarter, compared to analysts’ expectations of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same period in the prior year, the firm earned $0.80 EPS. On average, equities analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings purchased 10,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the transaction, the director owned 60,000 shares of the company’s stock, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have purchased 25,300 shares of company stock worth $769,990. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Texas Capital Bancshares in the 4th quarter worth about $784,000. PNC Financial Services Group Inc. increased its holdings in Texas Capital Bancshares by 87.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,559 shares of the bank’s stock valued at $278,000 after purchasing an additional 1,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Texas Capital Bancshares by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,381 shares of the bank’s stock worth $968,000 after buying an additional 1,908 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at about $4,388,000. Finally, Cibc World Markets Corp acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $339,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.