JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $81.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.27% from the stock’s previous close.

Several other analysts also recently weighed in on TCBI. Royal Bank of Canada lifted their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Barclays raised their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Finally, Wedbush reiterated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus price target of $76.27.

Texas Capital Bancshares Trading Up 0.7 %

TCBI stock traded up $0.52 during mid-day trading on Friday, reaching $77.47. 182,949 shares of the stock traded hands, compared to its average volume of 481,891. Texas Capital Bancshares has a one year low of $54.68 and a one year high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day moving average price of $81.95 and a two-hundred day moving average price of $74.23. The stock has a market capitalization of $3.58 billion, a PE ratio of 429.64, a PEG ratio of 0.73 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Equities research analysts expect that Texas Capital Bancshares will post 4.08 EPS for the current year.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently modified their holdings of TCBI. Blue Trust Inc. raised its position in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in Texas Capital Bancshares during the 3rd quarter valued at about $31,000. R Squared Ltd acquired a new position in shares of Texas Capital Bancshares in the fourth quarter valued at about $41,000. Meeder Asset Management Inc. purchased a new position in shares of Texas Capital Bancshares in the third quarter worth about $71,000. Finally, CWM LLC lifted its holdings in shares of Texas Capital Bancshares by 69.8% during the third quarter. CWM LLC now owns 1,611 shares of the bank’s stock worth $115,000 after purchasing an additional 662 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

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.