Texas Capital Bancshares (NASDAQ:TCBI) PT Raised to $70.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lifted by Truist Financial from $62.00 to $70.00 in a research report report published on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other research analysts also recently commented on TCBI. Keefe, Bruyette & Woods cut their target price on Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating for the company in a research note on Monday, April 22nd. Mizuho restated a hold rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Stephens upped their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the stock an overweight rating in a report on Friday, July 19th. Wedbush raised their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a neutral rating in a report on Friday, July 19th. Finally, Jefferies Financial Group reduced their price target 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. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $65.19.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $66.20 on Monday. The firm has a market cap of $3.06 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.75 and a beta of 1.15. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $60.95 and its 200-day moving average is $60.30. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $72.07.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results 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). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The business had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same period in the previous year, the firm earned $1.33 EPS. Sell-side analysts predict that Texas Capital Bancshares will post 3.42 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the transaction, the director now directly owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of Texas Capital Bancshares stock in a transaction on Friday, May 10th. The shares were acquired at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now directly owns 156,706 shares of the company’s stock, valued at $3,055,767. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Stallings acquired 6,000 shares of the stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the completion of the acquisition, the director now owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. In the last three months, insiders have bought 15,504 shares of company stock worth $303,178. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TCBI. Norges Bank purchased a new stake in Texas Capital Bancshares during the 4th quarter valued at about $35,120,000. Louisiana State Employees Retirement System purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $873,000. Rafferty Asset Management LLC grew its holdings in shares of Texas Capital Bancshares by 144.5% in the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after purchasing an additional 72,782 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth $3,402,000. Finally, Goldman Sachs Group Inc. raised its holdings in Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after buying an additional 161,643 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.