Wedbush Raises Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $70.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by Wedbush from $62.00 to $70.00 in a research report sent to investors on Friday, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.25 EPS, Q1 2025 earnings at $0.69 EPS and Q3 2025 earnings at $1.13 EPS.

TCBI has been the topic of several other research reports. Jefferies Financial Group dropped their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. Mizuho reiterated a hold rating and set a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Truist Financial lifted their price target on shares of Texas Capital Bancshares from $61.00 to $62.00 and gave the stock a hold rating in a research note on Monday, July 8th. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating on the stock in a research report on Friday, April 19th. Finally, Raymond James downgraded shares of Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of Hold and an average price target of $64.50.

Texas Capital Bancshares Trading Down 0.1 %

Shares of TCBI stock opened at $66.00 on Friday. The firm’s 50 day moving average is $60.60 and its 200 day moving average is $60.16. The stock has a market capitalization of $3.08 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.67 and a beta of 1.15. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $72.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the prior year, the business earned $1.33 EPS. Research analysts expect that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 3,000 shares of Texas Capital Bancshares stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the acquisition, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert W. Stallings purchased 3,000 shares of Texas Capital Bancshares stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the acquisition, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings bought 6,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the acquisition, the director now owns 163,706 shares in the company, valued at $3,195,541.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 15,004 shares of company stock worth $292,878. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

A number of large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after buying an additional 175 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Texas Capital Bancshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after buying an additional 208 shares during the last quarter. CWM LLC increased its holdings in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock worth $58,000 after buying an additional 275 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after buying an additional 344 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Texas Capital Bancshares by 41.9% in the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after buying an additional 476 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Company Profile

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.