Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $100.00 by Analysts at TD Cowen

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by TD Cowen from $106.00 to $100.00 in a research report released on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the bank’s stock.

Several other equities research analysts have also issued reports on the stock. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Friday. Citigroup reduced their price objective on shares of Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, October 1st. Finally, Wall Street Zen upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.25.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $93.69 on Monday. The business’s 50 day moving average price is $97.61 and its 200-day moving average price is $99.17. Texas Capital Bancshares has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The company has a market cap of $4.07 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.14 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.Texas Capital Bancshares’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Sell-side analysts predict that Texas Capital Bancshares will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Texas Capital Bancshares’s dividend payout ratio (DPR) is presently 10.40%.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the sale, the insider directly owned 7,529 shares of the company’s stock, valued at $753,125.87. The trade was a 21.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. Cim Investment Management Inc. purchased a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $234,000. Sequoia Financial Advisors LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter worth $281,000. Engineers Gate Manager LP purchased a new position in Texas Capital Bancshares during the 2nd quarter worth $1,256,000. Squarepoint Ops LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter worth $3,244,000. Finally, Allworth Financial LP raised its position in Texas Capital Bancshares by 22.6% during the 2nd quarter. Allworth Financial LP now owns 1,320 shares of the bank’s stock valued at $136,000 after purchasing an additional 243 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.