JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $86.00 to $81.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 6.65% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $82.00 in a research report on Friday, October 18th. Truist Financial boosted their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their price target for the company from $51.00 to $77.00 in a report on Monday, September 9th. Finally, Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.75.

Texas Capital Bancshares Stock Down 2.1 %

NASDAQ:TCBI traded down $1.64 on Tuesday, hitting $75.95. 182,771 shares of the company’s stock were exchanged, compared to its average volume of 242,883. The company has a market cap of $3.51 billion, a P/E ratio of 421.94, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. The firm has a 50-day moving average price of $83.08 and a 200-day moving average price of $72.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. The firm had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. As a group, analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC increased its holdings in Texas Capital Bancshares by 2.6% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after purchasing an additional 139 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after buying an additional 169 shares during the period. State of Alaska Department of Revenue raised its holdings in Texas Capital Bancshares by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock valued at $383,000 after buying an additional 180 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Texas Capital Bancshares by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $309,000 after buying an additional 217 shares during the period. Finally, Tectonic Advisors LLC grew its holdings in Texas Capital Bancshares by 1.1% during the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock worth $1,631,000 after acquiring an additional 244 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

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.