Texas capital

Texas Capital Bancshares (NASDAQ:TCBI) PT raised to $60.00 at Wedbush


Texas Capital Bancshares (NASDAQ:TCBI – Get Note) had its price target raised by Wedbush investment analysts to $60.00 in a research note released to investors on Monday, Stock Target Advisor reports. Wedbush’s target price indicates a potential upside of 5.89% from the company’s current price. Wedbush also released Texas Capital Bancshares Q3 2022 earnings estimates at $1.02 EPS, FY2022 earnings at $3.40 EPS, Q2 2023 earnings at $1.16 EPS, Q4 2023 earnings at $1.20 EPS and FY2023 earnings at $4.62 EPS.

Other research analysts have also recently published research reports on the stock. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 report. Truist Financial cut its price target on shares of Texas Capital Bancshares from $69.00 to $65.00 and set a “buy” rating on the stock in a Wednesday, June 15 report. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a Friday, July 22 report. Jefferies Financial Group raised its price target on shares of Texas Capital Bancshares from $51.00 to $52.00 in a Monday July 11 report. Finally, Stephens raised his price target on shares of Texas Capital Bancshares to $66.00 in a Friday, July 22 report. Five analysts gave the stock a hold rating, one issued a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.67.

Texas Capital Bancshares Stock down 1.9%

TCBI stock opened at $56.66 on Monday. Texas Capital Bancshares has a 12-month low of $48.79 and a 12-month high of $71.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a leverage ratio of 0.34. The company has a market capitalization of $2.87 billion, a price-earnings ratio of 17.54, a PEG ratio of 2.05 and a beta of 1.54. The company has a 50-day moving average of $53.68 and a two-hundred-day moving average of $58.13.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last released its results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing analyst consensus estimates of $0.74 per ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. In the same quarter a year earlier, the company posted earnings per share of $1.31. On average, stock analysts expect Texas Capital Bancshares to post 3.46 earnings per share for the current fiscal year.

Insider activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the company in a trade dated Thursday, April 28. The shares were acquired at an average cost of $52.00 per share, for a total transaction of $156,000.00. Following 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert W. Stallings purchased 2,000 shares of Texas Capital Bancshares in a trade Thursday, May 12. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $100,500.00. Following completion of the transaction, the administrator now directly owns 46,810 shares of the company, valued at $2,352,202.50. The purchase was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, director Robert W. Stallings purchased 3,000 shares of Texas Capital Bancshares in a trade on Thursday, April 28. The shares were purchased at an average price of $52.00 per share, for a total transaction of $156,000.00. Following completion of the transaction, the director now owns 68,652 shares of the company, valued at $3,569,904. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 57,130 shares of the company worth $3,096,857. Company insiders own 0.56% of the company’s shares.

Hedge funds weigh on shares of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently increased or reduced their stake in TCBI. JPMorgan Chase & Co. increased its position in 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 buying an additional 1,415,279 shares last quarter. Invesco Ltd. increased its position in 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 last quarter. Granite Investment Partners LLC purchased a new stock position in Texas Capital Bancshares in the first quarter at a value of approximately $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 worth $48,262,000 after acquiring an additional 288,660 shares in the last quarter. 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 worth $24,188,000 after acquiring an additional 275,631 shares in the last quarter. 97.77% of the shares are currently held by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

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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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