Texas Capital Bancshares (NASDAQ:TCBI) Price target lowered to $70.00 at Raymond James
Texas Capital Bancshares (NASDAQ:TCBI) had its price target reduced by analysts at Raymond James from $75.00 to $70.00 in a report on Friday, Benzinga reports. The company currently has an “outperform” rating on the bank’s shares. Raymond James’ price target would suggest a potential upside of 13.64% from the current share price.
Other analysts have also recently published research reports on the stock. Bank of America reiterated a “neutral” rating and issued a price target of $69.00 on shares of Texas Capital Bancshares in a report on Tuesday. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a price target of $63.00 on the stock in a Friday, November 19 report. One financial analyst gave the stock a sell rating, six gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.94.
Shares of Texas Capital Bancshares opened at $61.60 on Friday. The company has a debt ratio of 1.10, a quick ratio of 1.10 and a current ratio of 1.10. Texas Capital Bancshares has a 52-week low of $54.27 and a 52-week high of $93.26. The stock has a market capitalization of $3.12 billion, a price-earnings ratio of 13.57 and a beta of 1.83. The company’s 50-day moving average price is $60.77 and its 200-day moving average price is $61.58.
Texas Capital Bancshares (NASDAQ:TCBI) last released its results on Thursday, January 20. The bank reported earnings per share (EPS) of $1.19 for the quarter, beating the consensus estimate of $0.91 by $0.28. Texas Capital Bancshares had a net margin of 23.46% and a return on equity of 8.98%. During the same period of the previous year, the company achieved EPS of $1.14. As a group, equity research analysts expect Texas Capital Bancshares to post earnings per share of 4.33 for the current fiscal year.
Separately, CFO Julie L. Anderson purchased 4,000 shares in a trade dated Monday, October 25. The shares were purchased at an average price of $60.41 per share, with a total value of $241,640.00. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, director Robert W. Stallings purchased 5,000 shares in a trade dated Wednesday, October 27. The stock was purchased at an average cost of $58.50 per share, with a total value of $292,500.00. Disclosure of this purchase can be found here. Insiders have acquired 26,697 shares of the company valued at $1,621,977 over the past three months. Insiders own 0.64% of the shares of the company.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. O Shaughnessy Asset Management LLC increased its stake in Texas Capital Bancshares by 4,210.0% in Q3. O Shaughnessy Asset Management LLC now owns 431 shares of the bank worth $26,000 after buying 421 additional shares in the last quarter. Rockefeller Capital Management LP increased its equity stake in Texas Capital Bancshares by 128.2% during the second quarter. Rockefeller Capital Management LP now owns 785 shares of the bank valued at $49,000 after purchasing an additional 441 shares during the period. Hanseatic Management Services Inc. increased its stake in the shares of Texas Capital Bancshares by 23.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,064 shares of the bank valued at $64,000 after purchasing an additional 204 shares during the period. Dark Forest Capital Management LP purchased a new equity stake in Texas Capital Bancshares during Q2, valued at approximately $75,000. Finally, the Toronto-Dominion Bank increased its stake in shares of Texas Capital Bancshares by 34.1% during the second quarter. The Toronto Dominion Bank now owns 1,427 shares of the bank valued at $91,000 after purchasing 363 additional shares during the period. Institutional investors hold 95.67% of the company’s shares.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as a holding company for Texas Capital Bank NA. It provides commercial banking services to its clients in Texas and focuses on middle-market commercial businesses and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include business checking accounts, secured accounts, cash pooling accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.
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