Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for Texas Capital Bancshares (NASDAQ:TCBI)

Texas Capital Bancshares (NASDAQ:TCBI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $74.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.75% from the stock’s previous close.

Several other equities analysts also recently weighed in on TCBI. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their target price for the company from $51.00 to $77.00 in a research report on Monday. Truist Financial lifted their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Citigroup restated a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.04.

Texas Capital Bancshares Trading Up 1.7 %

TCBI stock traded up $1.13 during mid-day trading on Monday, hitting $68.68. 69,707 shares of the company were exchanged, compared to its average volume of 418,064. The business has a fifty day simple moving average of $63.75 and a 200-day simple moving average of $60.79. The firm has a market capitalization of $3.17 billion, a P/E ratio of 21.11, a PEG ratio of 3.05 and a beta of 1.13. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $72.07. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The company had revenue of $472.49 million during the quarter, compared to analyst estimates of $268.02 million. During the same quarter last year, the business posted $1.33 EPS. On average, equities research analysts predict that Texas Capital Bancshares will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the acquisition, the director now owns 31,294 shares in the company, valued at approximately $640,275.24. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, for a total transaction of $279,020.00. Following the acquisition, the director now owns 55,294 shares in the company, valued at approximately $1,102,009.42. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,500 shares of company stock worth $876,400 in the last quarter. 0.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter worth approximately $26,000. CWM LLC lifted its position in Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares during the period. Mather Group LLC. acquired a new stake in Texas Capital Bancshares during the 1st quarter worth approximately $50,000. Fidelis Capital Partners LLC acquired a new stake in Texas Capital Bancshares during the 1st quarter worth approximately $54,000. Finally, TFO Wealth Partners LLC lifted its position in Texas Capital Bancshares by 123,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock worth $160,000 after acquiring an additional 2,475 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.