Texas Capital Bancshares (NASDAQ:TCBI) Stock Price Expected to Rise, Barclays Analyst Says

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by equities researchers at Barclays from $100.00 to $110.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s target price suggests a potential upside of 5.85% from the company’s current price.

Several other research firms have also recently weighed in on TCBI. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Stephens reduced their target price on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada decreased their target price on Texas Capital Bancshares from $113.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, October 22nd. Piper Sandler lifted their price target on Texas Capital Bancshares from $100.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Finally, Raymond James Financial lowered their price target on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.00.

Texas Capital Bancshares Trading Down 0.2%

Shares of Texas Capital Bancshares stock traded down $0.20 during trading on Tuesday, hitting $103.92. The stock had a trading volume of 30,580 shares, compared to its average volume of 494,623. The stock has a 50 day simple moving average of $95.86 and a 200 day simple moving average of $98.72. The company has a market capitalization of $4.41 billion, a PE ratio of 13.33, a P/E/G ratio of 1.03 and a beta of 0.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a 1 year low of $82.14 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, October 21st. The bank reported $2.35 EPS for the quarter, beating the consensus estimate of $1.96 by $0.39. The business had revenue of $356.60 million during the quarter, compared to the consensus estimate of $339.89 million. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 11.04%. On average, research analysts expect that Texas Capital Bancshares will post 7.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $578,148,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Texas Capital Bancshares in the second quarter worth approximately $75,429,000. Bank of America Corp DE acquired a new position in Texas Capital Bancshares in the second quarter worth approximately $47,997,000. Bank of New York Mellon Corp bought a new position in Texas Capital Bancshares during the second quarter valued at approximately $43,244,000. Finally, Azora Capital LP bought a new position in Texas Capital Bancshares during the second quarter valued at approximately $42,104,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.