Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $73.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 2.27% from the company’s current price.
A number of other research firms also recently issued reports on TCBI. Citigroup reissued a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. 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 note on Wednesday, July 3rd. DA Davidson raised their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Hovde Group raised their target price on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.13.
Check Out Our Latest Research Report on TCBI
Texas Capital Bancshares Stock Performance
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. Sell-side analysts expect that Texas Capital Bancshares will post 3.53 EPS for the current year.
Insider Activity at Texas Capital Bancshares
In other news, Director Robert W. Stallings bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert W. Stallings purchased 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $400,000. This represents a 300.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the acquisition, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 43,500 shares of company stock valued at $876,400 over the last 90 days. Insiders own 0.99% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in TCBI. Innealta Capital LLC purchased a new position in shares of Texas Capital Bancshares during the second quarter worth $26,000. CWM LLC grew its position in Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares during the period. Mather Group LLC. acquired a new stake in Texas Capital Bancshares during the first quarter valued at $50,000. Fidelis Capital Partners LLC acquired a new stake in Texas Capital Bancshares during the first quarter valued at $54,000. Finally, Headlands Technologies LLC grew its position in Texas Capital Bancshares by 80.4% during the first quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock valued at $179,000 after buying an additional 1,297 shares during the period. 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.
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