Texas capital

Texas Capital Bancshares (NASDAQ:TCBI) trades up 3.6% on analysts’ upgrade

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) jumped 3.6% during Thursday’s midday session after Truist Financial raised its price target on the stock from 65.00 $ to $68.00. Truist Financial currently has a buy rating on the stock. Texas Capital Bancshares traded as high as $63.30 and last traded at $62.90. 7,677 shares changed hands during the midday session, down 98% from the average session volume of 391,312 shares. The stock previously closed at $60.69.

A number of other equity research analysts have also published reports on the company. Wedbush raised its price target on Texas Capital Bancshares to $60.00 in a Monday, July 25 research note. Royal Bank of Canada raised its target price on shares of Texas Capital Bancshares from $59.00 to $62.00 and gave the company an “industry performance” rating in a research note on Monday. Raymond James raised his price target on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the stock a “strong buy” rating in a research note on Tuesday. Stephens raised his target price on shares of Texas Capital Bancshares to $66.00 in a Friday, July 22 research note. Finally, StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Saturday, July 30 research rating. Two equity research analysts rated the stock with a sell rating, one gave the company a hold rating, one issued a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $62.29.

Insider activity

A d Investment trends

The NEW COLD WAR US – RUSSIA

In response to Putin’s invasion of Ukraine, the United States dusted off a Cold War-era power and invoked the Defense Production Act of the 1950s. He calls for support from the mining and manufacturing of critical minerals such as copper, to accelerate the transition to green energy. But with Russia sitting on the third largest copper reserves in the world, new sources of mining are desperately needed.

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 2,430 shares of the company in a transaction that took place on Monday, July 25. The shares were purchased at an average cost of $22.54 per share, with a total value of $54,772.20. Following the completion of the acquisition, the administrator now directly owns 2,340 shares of the company, valued at approximately $52,743.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Separately, director Robert W. Stallings bought 42,000 shares of the company in a trade on Friday, July 22. The shares were acquired at an average cost of $56.57 per share, with a total value of $2,375,940.00. Following completion of the transaction, the administrator now owns 111,725 ​​shares of the company, valued at approximately $6,320,283.25. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, director Robert W. Stallings acquired 2,430 shares of the company in a transaction dated Monday, July 25. The shares were purchased at an average cost of $22.54 per share, for a total transaction of $54,772.20. Following the transaction, the administrator now owns 2,340 shares of the company, valued at $52,743.60. Disclosure of this purchase can be found here. Last quarter, insiders acquired 57,805 shares of the company worth $3,230,924. 0.56% of the shares are currently held by company insiders.

Institutional investors weigh in on shares of Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Texas Capital Bancshares by 144.8% during the fourth quarter. Raymond James & Associates now owns 24,200 shares of the bank worth $1,458,000 after buying 14,315 more shares last quarter. Teacher Retirement System of Texas increased its holdings in Texas Capital Bancshares by 20.5% in the fourth quarter. Teacher Retirement System of Texas now owns 9,806 shares of the bank worth $591,000 after acquiring 1,668 additional shares in the last quarter. Citigroup Inc. increased its holdings in Texas Capital Bancshares by 61.1% in the fourth quarter. Citigroup Inc. now owns 18,101 shares of the bank worth $1,091,000 after acquiring 6,862 additional shares last quarter. JPMorgan Chase & Co. increased its holdings of Texas Capital Bancshares shares by 1,374.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank valued at $91,473,000 after acquiring an additional 1,415,279 shares last quarter. Finally, Rhumbline Advisers increased its holdings of Texas Capital Bancshares shares by 0.5% during the fourth quarter. Rhumbline Advisers now owns 161,970 shares of the bank valued at $9,759,000 after acquiring 753 additional shares last quarter. Hedge funds and other institutional investors hold 99.44% of the company’s shares.

Texas Capital Bancshares Stock up 3.5%

The company has a market capitalization of $3.13 billion, a price/earnings ratio of 18.79, a PEG ratio of 2.23 and a beta of 1.50. The company has a debt ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day moving average is $59.08 and its 200-day moving average is $56.95.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last released quarterly earnings data 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%. In the same quarter last year, the company achieved EPS of $1.31. Sell-side analysts expect Texas Capital Bancshares, Inc. to post earnings per share of 3.42 for the current year.

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.

See also

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Texas Capital Bancshares, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Texas Capital Bancshares was not on the list.

While Texas Capital Bancshares currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here