JPMorgan Chase & Co. Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $81.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price lowered by JPMorgan Chase & Co. from $86.00 to $81.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities analysts have also recently commented on the company. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Tuesday, September 17th. Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Royal Bank of Canada increased their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. DA Davidson lifted their price target on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.75.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $76.64 on Tuesday. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $83.04 and its 200 day moving average is $72.96. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 425.78, a PEG ratio of 0.80 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Sell-side analysts forecast that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently bought and sold shares of TCBI. AlphaMark Advisors LLC lifted its stake in shares of Texas Capital Bancshares by 2.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,396 shares of the bank’s stock worth $386,000 after purchasing an additional 139 shares during the last quarter. Blue Trust Inc. raised its holdings in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Texas Capital Bancshares by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock valued at $383,000 after buying an additional 180 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Texas Capital Bancshares by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after buying an additional 217 shares in the last quarter. Finally, Tectonic Advisors LLC grew its position in shares of Texas Capital Bancshares by 1.1% in the 3rd quarter. Tectonic Advisors LLC now owns 22,818 shares of the bank’s stock worth $1,631,000 after buying an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.