Barclays Increases Texas Capital Bancshares (TCBI) Price Target to $103.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target raised by stock analysts at Barclays from $87.00 to $103.00 in a research report issued on Tuesday. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays’ price objective would indicate a potential upside of 15.86% from the company’s current price.

A number of other brokerages have also recently weighed in on TCBI. Keefe, Bruyette & Woods restated a “hold” rating and issued a $100.00 price objective on shares of Texas Capital Bancshares in a report on Friday, December 22nd. BidaskClub upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Tuesday, December 26th. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $108.00 to $87.00 in a report on Thursday, December 21st. Finally, Royal Bank of Canada restated a “buy” rating on shares of Texas Capital Bancshares in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Texas Capital Bancshares currently has a consensus rating of “Buy” and an average target price of $95.00.

Shares of Texas Capital Bancshares (TCBI) traded down $1.80 on Tuesday, reaching $88.90. 341,900 shares of the company’s stock were exchanged, compared to its average volume of 523,000. The stock has a market capitalization of $4,411.80, a PE ratio of 23.09, a PEG ratio of 1.84 and a beta of 1.66. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 1.44. Texas Capital Bancshares has a twelve month low of $69.65 and a twelve month high of $95.20.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. sell-side analysts forecast that Texas Capital Bancshares will post 4.04 EPS for the current fiscal year.

In other news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the sale, the chief operating officer now owns 34,171 shares in the company, valued at $2,990,645.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Several large investors have recently bought and sold shares of TCBI. BlackRock Inc. lifted its position in Texas Capital Bancshares by 19,441.6% during the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock valued at $466,900,000 after purchasing an additional 5,566,317 shares during the period. Vanguard Group Inc. lifted its position in Texas Capital Bancshares by 2.5% during the second quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock valued at $313,721,000 after purchasing an additional 98,473 shares during the period. State Street Corp lifted its position in Texas Capital Bancshares by 14.8% during the second quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock valued at $270,711,000 after purchasing an additional 449,797 shares during the period. BlackRock Fund Advisors lifted its position in Texas Capital Bancshares by 8.0% during the third quarter. BlackRock Fund Advisors now owns 3,256,928 shares of the bank’s stock valued at $178,870,000 after purchasing an additional 241,599 shares during the period. Finally, Eagle Asset Management lifted its position in Texas Capital Bancshares by 103.6% during the third quarter. Eagle Asset Management now owns 2,452,304 shares of the bank’s stock valued at $128,548,000 after purchasing an additional 1,248,038 shares during the period.

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About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.