Texas Capital Bancshares (NASDAQ:TCBI – Get Note) had its target price raised by the Royal Bank of Canada from $59.00 to $62.00 in a research report released Monday to clients and investors, reports The Fly. Royal Bank of Canada’s target price would suggest a potential upside of 2.01% from the stock’s previous close.
TCBI has been the subject of several other reports. Bank of America downgraded shares of Texas Capital Bancshares from a “neutral” rating to an “underperforming” rating and lowered its target price for the stock from $57.00 to $55.00 in a report of search Thursday. Truist Financial lowered 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. Stephens raised his price target on Texas Capital Bancshares to $66.00 in a Friday, July 22 research report. Raymond James upgraded shares of Texas Capital Bancshares from an “outperform” rating to a “strong buy” rating and set a price target of $70.00 on the stock in a research report from the Thursday, July 7. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Saturday, July 30 research report. Two investment analysts have assigned the stock a sell rating, one has assigned a buy rating and one has assigned the stock a strong buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.43.
Texas Capital Banc Share Price Performance
Shares of Texas Capital Bancshares opened at $60.78 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 debt ratio of 0.34, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day simple moving average of $58.62 and a 200-day simple moving average of $56.93. The stock has a market capitalization of $3.03 billion, a PE ratio of 18.82, a growth price-earnings ratio of 2.22 and a beta of 1.50.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) released its quarterly results for the last time on Thursday, July 21. The bank reported EPS of $0.59 for the quarter, missing the consensus estimate of $0.74 per ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. During the same period a year earlier, the company posted EPS of $1.31. Stock analysts predict that Texas Capital Bancshares will post 3.42 earnings per share for the current year.
Insider Trading at Texas Capital Bancshares
Separately, director Robert W. Stallings acquired 8,000 shares of the company in a transaction dated Tuesday, August 16. The shares were acquired at an average price of $65.35 per share, for a total transaction of $522,800.00. Following the completion of the acquisition, the administrator now directly owns 146,000 shares of the company, valued at approximately $9,541,100. The acquisition was disclosed in a legal filing with the SEC, accessible via this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 8,000 shares of Texas Capital Bancshares in a trade that took place on Tuesday August 16th. The shares were purchased at an average cost of $65.35 per share, for a total transaction of $522,800.00. Following the completion of the acquisition, the director now owns 146,000 shares of the company, valued at approximately $9,541,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Robert W. Stallings purchased 2,430 shares of the company in a transaction on Monday, July 25. The stock was purchased at an average price of $22.54 per share, for a total transaction of $54,772.20. Following the acquisition, the director now directly owns 2,340 shares of the company, valued at approximately $52,743.60. Disclosure of this purchase can be found here. During the last quarter, insiders acquired 57,805 shares of the company valued at $3,230,924. 0.56% of the shares are currently held by company insiders.
Institutional Equity Trading Texas Capital Bancshares
A number of hedge funds have recently changed their positions in TCBI. Eagle Bay Advisors LLC increased its equity stake in Texas Capital Bancshares by 65.9% in the second quarter. Eagle Bay Advisors LLC now owns 720 shares of the bank worth $38,000 after acquiring 286 additional shares in the last quarter. Quent Capital LLC increased its position in shares of Texas Capital Bancshares by 157.5% in the 1st quarter. Quent Capital LLC now owns 837 shares of the bank worth $48,000 after purchasing an additional 512 shares in the last quarter. Exane Derivatives bought a new position in Texas Capital Bancshares during the first quarter for a value of approximately $108,000. Carl Stuart Investment Advisor Inc. bought a new stake in Texas Capital Bancshares in Q1 for $115,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Texas Capital Bancshares in the first quarter worth $210,000. 99.44% of the shares are held by hedge funds and other institutional investors.
Texas Capital Bancshares Company Profile
(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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