TD Cowen Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $106.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lowered by equities researchers at TD Cowen from $109.00 to $106.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. TD Cowen’s price objective suggests a potential upside of 7.61% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Stephens lowered their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their target price on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $105.83.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI traded down $0.75 during trading hours on Monday, hitting $98.50. 150,519 shares of the company traded hands, compared to its average volume of 490,342. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a twelve month low of $75.41 and a twelve month high of $108.92. The firm has a 50-day moving average of $101.32 and a 200 day moving average of $99.55. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.46 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. The company had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, analysts forecast that Texas Capital Bancshares will post 7.41 EPS for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total transaction of $353,325.00. Following the completion of the sale, the insider owned 23,810 shares in the company, valued at approximately $2,403,619.50. The trade was a 12.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rob C. Holmes sold 49,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $101.22, for a total value of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares in the company, valued at $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 102,100 shares of company stock valued at $10,366,023. 1.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Texas Capital Bancshares during the third quarter worth about $25,000. Farther Finance Advisors LLC increased its stake in shares of Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Texas Capital Bancshares by 85.2% in the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 150 shares during the period. Advisory Services Network LLC bought a new position in Texas Capital Bancshares during the 3rd quarter worth approximately $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

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.