Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $93.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lifted by Hovde Group from $85.00 to $93.00 in a research report report published on Thursday, MarketBeat.com reports. The firm currently has a market perform rating on the bank’s stock.

A number of other equities analysts have also issued reports on TCBI. Barclays set a $85.00 target price on shares of Texas Capital Bancshares and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, July 21st. TD Cowen upgraded shares of Texas Capital Bancshares to a “hold” rating in a report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Finally, Cowen began coverage on shares of Texas Capital Bancshares in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.60.

Texas Capital Bancshares Price Performance

Shares of TCBI stock opened at $85.45 on Thursday. Texas Capital Bancshares has a 1 year low of $59.37 and a 1 year high of $94.61. The firm’s 50 day moving average is $85.08 and its 200-day moving average is $79.58. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.66 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 22nd. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%. The company had revenue of $340.35 million for the quarter, compared to analyst estimates of $327.13 million. During the same period in the prior year, the business earned ($1.41) earnings per share. Texas Capital Bancshares’s quarterly revenue was up 171.6% on a year-over-year basis. Sell-side analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 0.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank’s stock worth $248,936,000 after acquiring an additional 26,786 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 7.1% during the second quarter. AQR Capital Management LLC now owns 1,534,446 shares of the bank’s stock worth $121,636,000 after acquiring an additional 101,675 shares in the last quarter. Azora Capital LP increased its position in shares of Texas Capital Bancshares by 141.3% during the second quarter. Azora Capital LP now owns 930,014 shares of the bank’s stock worth $73,843,000 after acquiring an additional 544,590 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Texas Capital Bancshares by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank’s stock worth $60,733,000 after acquiring an additional 68,195 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Texas Capital Bancshares by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 657,626 shares of the bank’s stock worth $52,216,000 after acquiring an additional 71,774 shares in the last quarter. 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.