Texas Capital Bancshares (NASDAQ:TCBI) upgraded to Outperform by Raymond James

VaselineSeptember 19, 2024

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Texas Capital Bancshares (NASDAQ:TCBI – Get a Free Report) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $78.00 target price on the bank’s stock. Raymond James’ price target indicates a potential upside of 8.44% from the company’s current price.

TCBI has been the subject of several other reports. Wedbush boosted their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Stephens upped 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. DA Davidson raised their price objective on Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $67.30.

Get the latest research report on TCBI

Texas Capital Bancshares Stock Performance

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NASDAQ TCBI opened at $71.93 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.98 and a beta of 1.13. Texas Capital Bancshares has a 1 year low of $52.89 and a 1 year high of $74.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00, and a quick ratio of 0.99. The stock has a 50-day moving average of $65.00 and a two-hundred-day moving average of $61.32.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report ) last announced its 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). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The business had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. In the same period last year, the company earned $1.33 per share. As a group, analysts anticipate that Texas Capital Bancshares will post 3.43 EPS for the current year.

Insider Trading at Texas Capital Bancshares

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

Institutional Trading of Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. Wellington Management Group LLP boosted its holdings in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after acquiring an additional 547,336 shares during the period. Norges Bank purchased a new position in shares of Texas Capital Bancshares in the 4th quarter valued at about $35,120,000. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after acquiring an additional 506,094 shares during the period. Millennium Management LLC boosted its holdings in Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after buying an additional 221,454 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Texas Capital Bancshares in the second quarter worth approximately $11,489,000. 96.88% of the shares are currently held by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

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Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that provides customized solutions to businesses, entrepreneurs and individual clients. The company offers commercial banking services; consumer bank; investment banking solutions, including capital markets, M&A and syndicated finance, as well as coverage of financial sponsors, capital solutions and institutional services; and wealth management services such as investment management, financial planning, lockbox and insurance, securities lending, estate planning and business succession, as well as philanthropic, fiduciary and executor services, personalized credit and depository services.