Texas Capital Bancshares (NASDAQ:TCBI) Upgraded to “Outperform” at Raymond James

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

Other analysts also recently issued research reports about the stock. Jefferies Financial Group decreased their target price on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating for the company in a research report on Wednesday, July 3rd. Truist Financial increased their target price on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a hold rating in a research report on Monday, July 22nd. Citigroup reissued a sell rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the company an underweight rating in a research report on Monday, September 9th. Finally, Stephens increased their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an overweight rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $67.97.

Texas Capital Bancshares Stock Down 2.6 %

Shares of NASDAQ TCBI opened at $72.00 on Tuesday. The company has a 50 day simple moving average of $65.39 and a 200 day simple moving average of $61.49. The firm has a market cap of $3.36 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $74.57. 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 (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to the consensus estimate 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 business earned $1.33 EPS. On average, research analysts forecast that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average price of $20.46 per share, with a total value of $204,600.00. Following the transaction, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert W. Stallings acquired 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were acquired at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares in the company, valued at $263,812.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were bought at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 43,500 shares of company stock valued at $876,400. 0.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,736 shares of the bank’s stock worth $34,819,000 after purchasing an additional 12,254 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Texas Capital Bancshares by 103.7% during the 4th quarter. Teacher Retirement System of Texas now owns 11,295 shares of the bank’s stock worth $730,000 after purchasing an additional 5,749 shares during the period. Beacon Pointe Advisors LLC raised its stake in shares of Texas Capital Bancshares by 8.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 21,305 shares of the bank’s stock worth $1,377,000 after purchasing an additional 1,600 shares during the period. Norges Bank bought a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $35,120,000. Finally, UBS Group AG raised its stake in shares of Texas Capital Bancshares by 51.0% during the 4th quarter. UBS Group AG now owns 97,714 shares of the bank’s stock worth $6,315,000 after purchasing an additional 33,022 shares during the period. 96.88% of the stock is currently owned by institutional investors.

About Texas Capital Bancshares

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.