Texas Capital Bancshares (NASDAQ:TCBI) Stock Gets Price Target Reduction from Royal Bank Of Canada

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by Royal Bank Of Canada from $113.00 to $110.00 in a research report report published on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the bank’s stock.

TCBI has been the subject of a number of other reports. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Barclays raised shares of Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock in a research report on Monday, August 3rd. Raymond James Financial dropped their price objective on shares of Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Citigroup cut their target price on shares of Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, September 22nd. Finally, TD Cowen cut their target price on shares of Texas Capital Bancshares from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $104.67.

Texas Capital Bancshares Stock Up 3.2%

Shares of Texas Capital Bancshares stock opened at $101.99 on Thursday. The stock has a 50-day moving average price of $95.49 and a 200 day moving average price of $98.98. The company has a market cap of $4.43 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.05 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a 1 year low of $81.26 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 21st. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.39. Texas Capital Bancshares had a return on equity of 11.04% and a net margin of 17.74%. The company had revenue of $356.60 million for the quarter, compared to analysts’ expectations of $339.89 million. As a group, analysts expect that Texas Capital Bancshares will post 7.65 EPS for the current fiscal year.

Texas Capital Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Texas Capital Bancshares’s payout ratio is 10.27%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TCBI. Evergreen Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 5.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 7,372 shares of the bank’s stock worth $686,000 after purchasing an additional 408 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of Texas Capital Bancshares by 15.7% in the 3rd quarter. Tectonic Advisors LLC now owns 24,559 shares of the bank’s stock valued at $2,285,000 after buying an additional 3,329 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Texas Capital Bancshares by 19.5% in the third quarter. Sterling Capital Management LLC now owns 937 shares of the bank’s stock worth $87,000 after buying an additional 153 shares during the last quarter. Inspire Investing LLC increased its holdings in Texas Capital Bancshares by 4.4% in the third quarter. Inspire Investing LLC now owns 6,849 shares of the bank’s stock worth $637,000 after buying an additional 290 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Texas Capital Bancshares in the third quarter worth approximately $26,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Key Texas Capital Bancshares News

Here are the key news stories impacting Texas Capital Bancshares this week:

• Positive Sentiment: Record quarterly revenue and an earnings beat reinforce the growth case for Texas Capital, with lending and fee-generating businesses both contributing. The company also reported a 10.92% return on equity and a 17.74% net margin. Texas Capital Hits Record Revenues in Q3
• Positive Sentiment: Management’s earnings-call update highlighted record earnings momentum, while the company maintained its quarterly cash dividend of $0.20 per share, equivalent to an annualized $0.80 payout and an approximately 0.8% yield. Texas Capital Bancshares Delivers Record Earnings Momentum
• Neutral Sentiment: Analyst sentiment remains balanced. TD Cowen raised its price target to $104 but kept a Hold rating, while RBC lowered its target to $110 and maintained Sector Perform, suggesting modest additional upside but limited conviction. TD Cowen price target
• Negative Sentiment: Investors may be monitoring costs closely: Texas Capital forecast fourth-quarter non-interest expense of $205 million to $210 million against expected non-interest income of $70 million to $75 million. Higher expenses could moderate the benefit of continued revenue growth. Texas Capital fourth-quarter expense forecast

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 primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.