JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $100.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by research analysts at JPMorgan Chase & Co. from $105.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.36% from the stock’s current price.

A number of other equities research analysts also recently commented on TCBI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Royal Bank Of Canada raised their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Hovde Group lifted their price objective on Texas Capital Bancshares from $93.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 27th. Citigroup upped their price objective on Texas Capital Bancshares from $75.00 to $88.00 and gave the company a “sell” rating in a research report on Monday, January 26th. Finally, Zacks Research downgraded Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.75.

Texas Capital Bancshares Stock Performance

TCBI traded up $0.94 during midday trading on Wednesday, hitting $95.82. 407,186 shares of the company traded hands, compared to its average volume of 488,118. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4.24 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. The company’s 50-day moving average is $98.00 and its 200 day moving average is $92.07. Texas Capital Bancshares has a 52 week low of $59.37 and a 52 week high of $108.92.

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

Insider Activity

In related news, Director Paola M. Arbour acquired 1,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the purchase, the director directly owned 6,671 shares of the company’s stock, valued at approximately $610,396.50. This trade represents a 17.63% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura L. Whitley acquired 500 shares of Texas Capital Bancshares stock in a transaction dated Monday, January 26th. The stock was bought at an average price of $97.51 per share, with a total value of $48,755.00. Following the completion of the purchase, the director directly owned 7,961 shares in the company, valued at $776,277.11. This represents a 6.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 49,500 shares of company stock valued at $1,252,855 in the last 90 days. Company insiders own 1.91% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Danske Bank A S purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC increased its holdings in Texas Capital Bancshares by 1,381.8% in the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. Advisory Services Network LLC bought a new stake in Texas Capital Bancshares during the 3rd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Texas Capital Bancshares by 169.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock valued at $35,000 after purchasing an additional 246 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.