Hovde Group Raises Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Price Target to $86.00

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) had its price objective boosted by analysts at Hovde Group from $85.00 to $86.00 in a research note issued to investors on Tuesday, August 1st, MarketBeat reports. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective suggests a potential upside of 18.46% from the stock’s current price.

TCBI has been the subject of a number of other reports. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, July 11th. Barclays PLC restated an “equal weight” rating and set a $80.00 price objective (up previously from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. Wedbush upgraded Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $79.00 to $86.00 in a report on Monday, May 8th. UBS AG upgraded Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating in a report on Thursday, April 6th. Finally, Stephens restated a “hold” rating on shares of Texas Capital Bancshares in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Texas Capital Bancshares has an average rating of “Hold” and an average price target of $86.15.

Texas Capital Bancshares (NASDAQ TCBI) opened at 72.60 on Tuesday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 20.15 and a beta of 1.67. The firm’s 50-day moving average is $78.06 and its 200 day moving average is $79.97. Texas Capital Bancshares has a 12-month low of $48.01 and a 12-month high of $93.35.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The company had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. During the same period in the prior year, the company earned $0.78 EPS. Equities research analysts anticipate that Texas Capital Bancshares will post $4.01 earnings per share for the current year.

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In other Texas Capital Bancshares news, CFO Peter B. Bartholow sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $74.52, for a total transaction of $298,080.00. Following the completion of the sale, the chief financial officer now owns 37,671 shares of the company’s stock, valued at $2,807,242.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $74.15 per share, with a total value of $222,450.00. Following the transaction, the insider now directly owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of large investors have recently made changes to their positions in TCBI. Exane Derivatives bought a new stake in shares of Texas Capital Bancshares during the second quarter worth about $125,000. Canada Pension Plan Investment Board boosted its stake in shares of Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after buying an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock worth $148,000 after buying an additional 563 shares during the last quarter. Hilton Capital Management LLC bought a new stake in shares of Texas Capital Bancshares during the second quarter worth about $201,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Texas Capital Bancshares during the second quarter worth about $201,000.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.

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