TD Cowen Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $100.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by TD Cowen from $106.00 to $100.00 in a research note published on Monday,Benzinga reports. They currently have a hold rating on the bank’s stock.

A number of other research firms have also weighed in on TCBI. Fundamental Research set a $110.00 target price on Texas Capital Bancshares in a report on Wednesday, July 1st. JPMorgan Chase & Co. lowered their price target on shares of Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Friday, October 2nd. Barclays raised shares of Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a research note on Monday, August 3rd. Finally, Stephens decreased their target price on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $104.50.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $90.58 on Monday. Texas Capital Bancshares has a one year low of $75.41 and a one year high of $108.92. The business has a fifty day moving average price of $97.34 and a 200-day moving average price of $99.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $3.94 billion, a P/E ratio of 11.78, a PEG ratio of 1.13 and a beta of 0.63.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.The company had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $333.37 million. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Texas Capital Bancshares will post 7.41 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

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

Insider Buying and Selling at Texas Capital Bancshares

In other news, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $100.03, for a total transaction of $204,561.35. Following the completion of the sale, the insider owned 7,529 shares in the company, valued at approximately $753,125.87. This trade represents a 21.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TCBI. Root Financial Partners LLC lifted its position in Texas Capital Bancshares by 85.2% during the first quarter. Root Financial Partners LLC now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 150 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $34,000. FNY Investment Advisers LLC bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $51,000. Westpac Banking Corp purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at $58,000. Finally, State of Wyoming purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at $73,000. 96.88% of the stock is currently owned by institutional investors.

About Texas Capital Bancshares

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.