Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $100.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its price target dropped by analysts at JPMorgan Chase & Co. from $110.00 to $100.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.85% from the company’s current price.

Several other equities analysts also recently commented on TCBI. TD Cowen dropped their price objective on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Fundamental Research set a $110.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, July 1st. Citigroup dropped their price target on Texas Capital Bancshares from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, September 22nd. Finally, Barclays raised Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock in a report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $104.75.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded down $1.15 during trading on Thursday, hitting $91.87. 119,635 shares of the company’s stock were exchanged, compared to its average volume of 483,405. The company has a market cap of $3.99 billion, a PE ratio of 11.90, a P/E/G ratio of 1.14 and a beta of 0.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. Texas Capital Bancshares has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The stock’s 50 day moving average price is $97.92 and its two-hundred day moving average price is $99.14.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. Research analysts expect that Texas Capital Bancshares will post 7.39 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In related news, insider Ellen Detrich sold 2,045 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the sale, the insider owned 7,529 shares of the company’s stock, valued at $753,125.87. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TCBI. BlackRock Inc. acquired a new position in Texas Capital Bancshares during the 2nd quarter worth about $578,148,000. Geode Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,197,494 shares of the bank’s stock valued at $108,436,000 after buying an additional 33,709 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $75,429,000. Norges Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth about $51,728,000. Finally, Wellington Management Group LLP raised its position in shares of Texas Capital Bancshares by 47.3% during the second quarter. Wellington Management Group LLP now owns 483,210 shares of the bank’s stock worth $49,896,000 after acquiring an additional 155,201 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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.