Royal Bank of Canada Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $83.00

by · The Markets Daily

Texas Capital Bancshares (NASDAQ:TCBI – Free Report) had its price objective lifted by Royal Bank of Canada from $73.00 to $83.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have a sector perform rating on the bank’s stock.

Other equities analysts also recently issued reports about the company. Hovde Group boosted their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday. DA Davidson upped their price target on Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a report on Monday, September 9th. Finally, Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a report on Friday. Five 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.19.

View Our Latest Report on Texas Capital Bancshares

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock opened at $79.02 on Friday. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $82.25. The company has a market cap of $3.69 billion, a PE ratio of 23.95, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The business has a 50-day simple moving average of $69.13 and a 200-day simple moving average of $63.45.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The company had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. During the same period in the prior year, the firm posted $1.33 earnings per share. On average, equities research analysts forecast that Texas Capital Bancshares will post 3.5 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert W. Stallings purchased 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now directly owns 31,294 shares of the company’s stock, valued at $640,275.24. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the purchase, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 43,500 shares of company stock worth $876,400 over the last 90 days. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank acquired a new position in Texas Capital Bancshares during the second quarter worth $675,000. Goldman Sachs Group Inc. grew its holdings in Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 shares during the period. Hodges Capital Management Inc. grew its holdings in Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after acquiring an additional 28,650 shares during the period. AQR Capital Management LLC grew its holdings in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after acquiring an additional 506,094 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Texas Capital Bancshares by 73.0% during the first quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock worth $1,569,000 after acquiring an additional 10,752 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

(Get Free Report)

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.

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