Texas Capital Bancshares (NASDAQ:TCBI) Given New $106.00 Price Target at TD Cowen

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by TD Cowen from $109.00 to $106.00 in a research report sent to investors on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the bank’s stock.

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Citigroup upped their price objective on Texas Capital Bancshares from $105.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Stock Down 0.9%

Shares of NASDAQ:TCBI opened at $98.40 on Monday. The company has a fifty day moving average of $101.34 and a 200-day moving average of $99.57. The company has a market capitalization of $4.28 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 52-week low of $75.41 and a 52-week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The company had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. During the same period in the prior year, the company earned $1.63 EPS. Texas Capital Bancshares’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Texas Capital Bancshares will post 7.41 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio is presently 10.40%.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $100.95, for a total transaction of $353,325.00. Following the transaction, the insider directly owned 23,810 shares of the company’s stock, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rob C. Holmes sold 49,500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the sale, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This trade represents a 22.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Danske Bank A S bought a new stake in Texas Capital Bancshares in the third quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its holdings in Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Root Financial Partners LLC raised its holdings in Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Capital Bancshares by 169.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after purchasing an additional 246 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.