Texas Capital Bancshares (NASDAQ:TCBI – Get Note) had its price target raised by equity researchers at Jefferies Financial Group from $51.00 to $52.00 in a note issued to investors on Monday, reports The Fly. Jefferies Financial Group’s price target would suggest a potential decline of 4.09% from the company’s previous close.
A number of other equity research analysts have also recently commented on TCBI. TheStreet upgraded Texas Capital Bancshares from a “b-” to a “c+” rating in a Thursday, April 21 research note. Raymond James upgraded Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a target price of $70.00 on the stock in a research report on Thursday. StockNews.com upgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 research report. Finally, Truist Financial cut its price target on Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 research report. One analyst rated the stock with a sell rating, four gave a hold rating, three gave a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.97.
Texas Capital Bancshares stock traded down $0.17 at midday on Monday, hitting $54.22. The stock had a trading volume of 4,031 shares, compared to an average volume of 518,789. The company has a leverage ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. . Texas Capital Bancshares has a fifty-two week low of $48.79 and a fifty-two week high of $71.60. The stock’s 50-day simple moving average is $53.21 and its 200-day simple moving average is $58.63. The company has a market capitalization of $2.75 billion, a PE ratio of 13.73, a growth price-earnings ratio of 2.02 and a beta of 1.54.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported quarterly earnings data on Wednesday, April 20. The bank reported EPS of $0.69 for the quarter, missing analyst consensus estimates of $0.73 per ($0.04). Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The company posted revenue of $203.83 million in the quarter, versus analyst estimates of $213.06 million. During the same period last year, the company posted EPS of $1.33. The company’s revenue was down 14.8% year over year. On average, research analysts expect Texas Capital Bancshares to post 3.37 earnings per share for the current fiscal year.
In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 3,000 shares of the company in a transaction on Thursday, April 28. The shares were acquired at an average price of $52.00 per share, with a total value of $156,000.00. Following completion of the transaction, the administrator now owns 68,652 shares of the company, valued at $3,569,904. The acquisition was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, director Larry L. Helm acquired 5,700 shares of the company in a transaction on Monday, May 2. The shares were acquired at an average cost of $52.25 per share, for a total transaction of $297,825.00. Following the transaction, the director now owns 77,858 shares of the company, valued at approximately $4,068,080.50. Disclosure of this purchase can be found here. Over the past three months, insiders have acquired 20,700 shares of the company worth $1,087,345. Insiders hold 0.56% of the shares of the company.
Several institutional investors and hedge funds have recently changed their holdings in TCBI. JPMorgan Chase & Co. increased its stake in shares of Texas Capital Bancshares by 1,374.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank valued at $91,473,000 after purchasing an additional 1,415,279 shares during the period. Invesco Ltd. increased its stake in shares of Texas Capital Bancshares by 84.4% in the fourth quarter. Invesco Ltd. now owns 929,516 shares of the bank valued at $56,003,000 after purchasing an additional 425,431 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Texas Capital Bancshares in the first quarter valued at $19,151,000. Bank of New York Mellon Corp increased its stake in shares of Texas Capital Bancshares by 52.2% in the first quarter. Bank of New York Mellon Corp now owns 842,157 shares of the bank valued at $48,262,000 after purchasing an additional 288,660 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Texas Capital Bancshares by 188.2% in the first quarter. Goldman Sachs Group Inc. now owns 422,060 shares of the bank valued at $24,188,000 after purchasing an additional 275,631 shares during the period. Hedge funds and other institutional investors own 97.77% of the company’s shares.
About Texas Capital Bancshares (Get a rating)
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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