Texas Capital Bancshares (TXSE:TCBI) Price Target Raised to $110.00

Texas Capital Bancshares (TXSE:TCBI) had its target price upped by Barclays from $100.00 to $110.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Texas Capital Bancshares from $113.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a report on Friday, October 2nd. Piper Sandler increased their price target on Texas Capital Bancshares from $100.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Raymond James Financial dropped their price target on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Finally, Stephens cut their price objective on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.00.

Texas Capital Bancshares Stock Performance

TXSE TCBI opened at $103.09 on Tuesday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.03 and a beta of 0.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a twelve month low of $82.14 and a twelve month high of $108.92. The stock has a fifty day simple moving average of $96.21 and a 200 day simple moving average of $98.82.

Texas Capital Bancshares (TXSE:TCBI) last posted its quarterly earnings data on Wednesday, October 21st. The bank reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.39. The company had revenue of $356.60 million during the quarter, compared to analysts’ expectations of $339.89 million. Texas Capital Bancshares had a net margin of 17.74% and a return on equity of 11.04%. Sell-side analysts expect that Texas Capital Bancshares will post 7.72 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Texas Capital Bancshares’s dividend payout ratio (DPR) is currently 10.27%.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at $578,148,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth about $75,429,000. Bank of America Corp DE purchased a new stake in shares of Texas Capital Bancshares in the 2nd quarter worth about $47,997,000. Bank of New York Mellon Corp bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $43,244,000. Finally, Azora Capital LP bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $42,104,000. Institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.