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

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

TCBI has been the subject of a number of other research reports. Keefe, Bruyette & Woods increased their target price on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock 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. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Zacks Research lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Citigroup raised their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a “sell” rating in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $87.60.

Texas Capital Bancshares Trading Up 3.0%

TCBI stock opened at $84.52 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50-day simple moving average is $85.05 and its 200 day simple moving average is $79.30. Texas Capital Bancshares has a 52 week low of $59.37 and a 52 week high of $94.61. The company has a market capitalization of $3.87 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.65 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.41. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.67%. The business had revenue of $340.35 million during the quarter, compared to analysts’ expectations of $327.13 million. During the same quarter in the prior year, the business posted ($1.41) earnings per share. Texas Capital Bancshares’s revenue was up 171.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Texas Capital Bancshares by 10.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $113,000 after purchasing an additional 121 shares during the period. UMB Bank n.a. lifted its stake in Texas Capital Bancshares by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 756 shares of the bank’s stock valued at $60,000 after acquiring an additional 173 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Texas Capital Bancshares by 1.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank’s stock valued at $810,000 after acquiring an additional 207 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Texas Capital Bancshares by 3.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,005 shares of the bank’s stock valued at $556,000 after acquiring an additional 249 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in Texas Capital Bancshares by 0.9% during the 2nd quarter. Tectonic Advisors LLC now owns 32,668 shares of the bank’s stock valued at $2,594,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.