Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $105.00 at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by JPMorgan Chase & Co. from $92.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

Several other equities analysts have also recently weighed in on TCBI. Weiss Ratings raised shares of Texas Capital Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 31st. Barclays increased their price objective on shares of Texas Capital Bancshares from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Tuesday, November 11th. Cowen started coverage on Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Hovde Group increased their price target on Texas Capital Bancshares from $85.00 to $93.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.40.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $94.72 on Tuesday. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.62 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $87.09 and its 200-day simple moving average is $84.63. Texas Capital Bancshares has a 52 week low of $59.37 and a 52 week high of $98.07.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.51% and a net margin of 15.14%.The company had revenue of $340.35 million for the quarter, compared to analysts’ expectations of $327.13 million. During the same period in the previous year, the firm earned ($1.41) EPS. The firm’s revenue was up 171.6% compared to the same quarter last year. As a group, analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $20.61 per share, for a total transaction of $206,100.00. Following the acquisition, the director owned 265,913 shares of the company’s stock, valued at approximately $5,480,466.93. This represents a 3.91% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 84.8% during the 1st quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after purchasing an additional 657,630 shares during the period. Norges Bank bought a new stake in Texas Capital Bancshares in the second quarter worth about $45,364,000. Azora Capital LP lifted its stake in Texas Capital Bancshares by 141.3% in the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after purchasing an additional 544,590 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Texas Capital Bancshares by 2,707.2% during the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after buying an additional 336,506 shares during the period. Finally, Algert Global LLC grew its stake in shares of Texas Capital Bancshares by 731.5% during the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock valued at $24,923,000 after buying an additional 259,380 shares during the last quarter. 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.