JPMorgan Chase & Co. Issues Positive Forecast for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price target boosted by JPMorgan Chase & Co. from $90.00 to $92.00 in a research report report published on Thursday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

TCBI has been the subject of several other research reports. TD Cowen upgraded Texas Capital Bancshares to a “hold” rating in a research report on Thursday, September 25th. Keefe, Bruyette & Woods boosted their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Cowen initiated coverage on Texas Capital Bancshares in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Barclays set a $85.00 price objective on Texas Capital Bancshares and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Capital Bancshares in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.60.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $84.52 on Thursday. The business has a 50 day moving average of $85.05 and a 200 day moving average of $79.30. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.65 and a beta of 0.67. Texas Capital Bancshares has a 1-year low of $59.37 and a 1-year high of $94.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 22nd. The bank reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.41. Texas Capital Bancshares had a return on equity of 9.67% and a net margin of 15.14%.The company had revenue of $340.35 million during the quarter, compared to the consensus estimate of $327.13 million. During the same quarter in the previous year, the company posted ($1.41) EPS. Texas Capital Bancshares’s quarterly revenue was up 171.6% compared to the same quarter last year. On average, sell-side analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC raised its holdings in shares of Texas Capital Bancshares by 106.8% during the third quarter. True Wealth Design LLC now owns 643 shares of the bank’s stock valued at $54,000 after acquiring an additional 332 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $52,000. EverSource Wealth Advisors LLC grew its stake in Texas Capital Bancshares by 452.6% in the second quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank’s stock worth $59,000 after purchasing an additional 611 shares during the period. UMB Bank n.a. grew its stake in Texas Capital Bancshares by 29.7% in the second quarter. UMB Bank n.a. now owns 756 shares of the bank’s stock worth $60,000 after purchasing an additional 173 shares during the period. Finally, GAMMA Investing LLC grew its stake in Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank’s stock worth $62,000 after purchasing an additional 465 shares during the period. 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.