Texas Capital Bancshares (TCBI) Price Target Cut to $90.00 by Analysts at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI) had its price target cut by Raymond James from $105.00 to $90.00 in a research note issued on Thursday. The brokerage presently has an “outperform” rating on the bank’s stock. Raymond James’ target price points to a potential upside of 16.66% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wedbush upped their price target on Texas Capital Bancshares from $109.00 to $110.00 and gave the stock a “$96.20” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Monday, September 3rd. SunTrust Banks restated a “buy” rating on shares of Texas Capital Bancshares in a report on Friday, July 20th. Piper Jaffray Companies restated a “buy” rating and issued a $117.00 price target on shares of Texas Capital Bancshares in a report on Friday, July 20th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $110.00 price target on shares of Texas Capital Bancshares in a report on Friday, July 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $101.27.

NASDAQ TCBI opened at $77.15 on Thursday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.26 and a current ratio of 1.32. Texas Capital Bancshares has a 12-month low of $74.09 and a 12-month high of $103.05. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The firm had revenue of $257.69 million during the quarter, compared to analyst estimates of $257.14 million. Texas Capital Bancshares had a return on equity of 12.51% and a net margin of 22.15%. During the same quarter in the prior year, the company earned $1.12 EPS. As a group, equities research analysts forecast that Texas Capital Bancshares will post 6.12 EPS for the current year.

In related news, Director Ian J. Turpin sold 5,320 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $93.06, for a total value of $495,079.20. Following the sale, the director now owns 8,602 shares of the company’s stock, valued at approximately $800,502.12. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in Texas Capital Bancshares in the 2nd quarter valued at approximately $119,000. Cerebellum GP LLC purchased a new stake in Texas Capital Bancshares in the 3rd quarter valued at approximately $172,000. Commonwealth Equity Services LLC purchased a new stake in Texas Capital Bancshares in the 1st quarter valued at approximately $222,000. WINTON GROUP Ltd purchased a new stake in Texas Capital Bancshares in the 1st quarter valued at approximately $250,000. Finally, Capital Management Associates NY purchased a new stake in Texas Capital Bancshares in the 2nd quarter valued at approximately $329,000.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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