Royal Bank Of Canada Has Lowered Expectations for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lowered by equities research analysts at Royal Bank Of Canada from $113.00 to $110.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 12.54% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Stephens decreased their price objective on shares of Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. DA Davidson set a $105.00 price objective on shares of Texas Capital Bancshares in a report on Thursday. Raymond James Financial cut their price target on shares of Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research note on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Capital Bancshares in a research report on Friday, October 2nd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.33.

Texas Capital Bancshares Trading Up 4.6%

NASDAQ:TCBI traded up $4.25 on Thursday, reaching $97.75. The company’s stock had a trading volume of 369,961 shares, compared to its average volume of 491,664. The firm has a market cap of $4.25 billion, a PE ratio of 12.71, a PEG ratio of 0.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day moving average price is $95.51 and its two-hundred day moving average price is $98.94. 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 posted its earnings results on Wednesday, October 21st. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.39. The business had revenue of $356.60 million during the quarter, compared to analysts’ expectations of $339.89 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%. Equities research analysts anticipate that Texas Capital Bancshares will post 7.40 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

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

Institutional Investors Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Texas Capital Bancshares during the 2nd quarter valued at $1,683,000. The Manufacturers Life Insurance Company bought a new stake in Texas Capital Bancshares in the second quarter worth $4,228,000. Quantinno Capital Management LP raised its holdings in Texas Capital Bancshares by 288.1% in the first quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank’s stock worth $3,295,000 after buying an additional 25,781 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at $47,997,000. Finally, BlackRock Inc. bought a new stake in Texas Capital Bancshares in the 2nd quarter worth about $578,148,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.