Texas Capital Bancshares (NASDAQ:TCBI) Upgraded at Raymond James

by · The Markets Daily

Raymond James upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI – Free Report) from a market perform rating to an outperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $78.00 target price on the bank’s stock.

A number of other brokerages have also weighed in on TCBI. Keefe, Bruyette & Woods reissued an outperform rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Truist Financial boosted their price target on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a hold rating in a research note on Monday, July 22nd. Citigroup reaffirmed a sell rating and set a $60.00 target price on shares of Texas Capital Bancshares in a report on Monday, July 22nd. DA Davidson increased their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a neutral rating in a report on Monday, September 9th. Finally, Stephens lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an overweight rating in a research note on Friday, July 19th. 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. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $67.30.

Check Out Our Latest Stock Analysis on Texas Capital Bancshares

Texas Capital Bancshares Trading Up 2.7 %

Shares of NASDAQ:TCBI opened at $73.90 on Tuesday. The business’s 50-day moving average is $65.19 and its 200 day moving average is $61.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $74.57. The firm has a market capitalization of $3.41 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.02 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to analyst estimates of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter last year, the company earned $1.33 EPS. On average, research analysts predict that Texas Capital Bancshares will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now directly owns 55,294 shares of the company’s stock, valued at $1,102,009.42. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the completion of the purchase, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,500 shares of company stock valued at $876,400. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth approximately $26,000. CWM LLC grew its holdings in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Texas Capital Bancshares in the first quarter valued at about $50,000. Fidelis Capital Partners LLC purchased a new position in shares of Texas Capital Bancshares in the first quarter worth about $54,000. Finally, TFO Wealth Partners LLC boosted its position in Texas Capital Bancshares by 123,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after acquiring an additional 2,475 shares during the last quarter. Hedge funds and other institutional investors 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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