JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $100.00

Texas Capital Bancshares (NASDAQ:TCBI – Free Report) had its price target decreased by JPMorgan Chase & Co. from $110.00 to $100.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Several other analysts also recently issued reports on TCBI. Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Citigroup reduced their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, September 22nd. Stephens decreased their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. TD Cowen dropped their price objective on Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $104.75.

Get Our Latest Research Report on Texas Capital Bancshares

Texas Capital Bancshares Trading Up 0.6%

TCBI stock opened at $93.76 on Thursday. Texas Capital Bancshares has a twelve month low of $75.41 and a twelve month high of $108.92. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.14 and a beta of 0.63. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $97.71 and its two-hundred day simple moving average is $99.11.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.01. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.63 EPS. As a group, analysts anticipate that Texas Capital Bancshares will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Texas Capital Bancshares’s payout ratio is currently 10.40%.

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Ellen Detrich sold 2,045 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the transaction, the insider directly owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $578,148,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Texas Capital Bancshares in the 2nd quarter worth approximately $75,429,000. Norges Bank purchased a new position in shares of Texas Capital Bancshares in the 4th quarter worth approximately $51,728,000. Bank of America Corp DE bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $47,997,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $43,244,000. Institutional investors own 96.88% of the company’s stock.

About Texas Capital Bancshares

(Get Free Report)

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking and financial services primarily to businesses, entrepreneurs, professionals and high-net-worth individuals.

Its offerings include commercial and corporate banking, lending, treasury and cash-management services, investment banking, capital markets solutions, private wealth management and personal banking products. Texas Capital Bank also serves specialized industries and markets through expertise in areas such as real estate, energy, technology and healthcare.

Founded in 1998, Texas Capital Bank has expanded from its Texas roots to serve clients across the United States, with a particular focus on major Texas business centers.

Further Reading

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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