Texas Capital Bancshares Inc (NASDAQ:TCBI)‘s stock had its “hold” rating restated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $86.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 15.79% from the stock’s current price.

Several other analysts have also recently issued reports on TCBI. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $79.00 to $86.00 in a research note on Monday, May 8th. BidaskClub cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $80.00 target price (up from $75.00) on shares of Texas Capital Bancshares in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $86.62.

Texas Capital Bancshares (TCBI) traded up 1.41% during midday trading on Friday, hitting $75.30. 132,235 shares of the stock were exchanged. The firm’s 50-day moving average price is $76.91 and its 200 day moving average price is $79.29. Texas Capital Bancshares has a 1-year low of $48.01 and a 1-year high of $93.35. The firm has a market capitalization of $3.73 billion, a P/E ratio of 20.90 and a beta of 1.67.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 25.33% and a return on equity of 10.14%. The business had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same period in the prior year, the company posted $0.78 EPS. Analysts expect that Texas Capital Bancshares will post $4.01 earnings per share for the current fiscal year.

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In related news, insider C Keith Cargill acquired 3,000 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the transaction, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock valued at $466,900,000 after buying an additional 5,566,317 shares in the last quarter. State Street Corp raised its position in Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock valued at $254,339,000 after buying an additional 994,585 shares in the last quarter. Koch Industries Inc. acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $661,000. Balyasny Asset Management LLC raised its position in Texas Capital Bancshares by 474.5% in the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock valued at $50,914,000 after buying an additional 543,299 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Texas Capital Bancshares by 26.5% in the second quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock valued at $164,699,000 after buying an additional 445,248 shares in the last quarter.

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.

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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