Texas Capital Bancshares (NASDAQ:TCBI) Price Target Raised to $110.00 at TD Cowen

Texas Capital Bancshares (NASDAQ:TCBI) had its target price hoisted by research analysts at TD Cowen from $103.00 to $110.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. TD Cowen’s price objective indicates a potential upside of 13.37% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler boosted their target price on shares of Texas Capital Bancshares from $86.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Research downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Barclays raised their target price on Texas Capital Bancshares from $90.00 to $100.00 and gave the company an “underweight” rating in a research report on Friday. Stephens lifted their price target on Texas Capital Bancshares from $111.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup increased their price target on Texas Capital Bancshares from $75.00 to $88.00 and gave the stock a “sell” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.42.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded down $0.02 during mid-day trading on Monday, reaching $97.03. The company had a trading volume of 108,057 shares, compared to its average volume of 416,387. The stock has a market capitalization of $4.43 billion, a P/E ratio of 14.27, a PEG ratio of 0.68 and a beta of 0.67. Texas Capital Bancshares has a 52-week low of $59.37 and a 52-week high of $105.36. The stock has a 50 day moving average of $93.38 and a two-hundred day moving average of $87.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The company had revenue of $327.48 million during the quarter, compared to the consensus estimate of $324.09 million. During the same period in the previous year, the company posted $1.43 earnings per share. On average, analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Texas Capital Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank’s stock worth $2,062,000 after buying an additional 1,206 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Texas Capital Bancshares by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,070 shares of the bank’s stock worth $41,837,000 after acquiring an additional 20,231 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Texas Capital Bancshares during the 1st quarter worth $230,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Texas Capital Bancshares by 29.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank’s stock valued at $8,050,000 after acquiring an additional 24,538 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Texas Capital Bancshares by 22.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,682 shares of the bank’s stock valued at $745,000 after purchasing an additional 1,614 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.