In recent developments, Piper Sandler has adjusted its price target for Texas Capital Bancshares, Inc. (TCBI, Financial), reducing it from $84 to $74. This adjustment comes in the wake of the company's latest quarterly earnings report. Despite the revision, the firm has maintained a Neutral rating on the bank's stock.
Analyst Stephen Scouten highlighted that Piper Sandler is opting for a cautious stance, expressing a desire for increased clarity and simplicity in Texas Capital’s strategic direction. The firm’s stance is driven by the belief that complexity in banking operations does not necessarily lead to successful outcomes.
This update reflects Piper Sandler's ongoing assessment of Texas Capital's performance and its approach to refining market expectations amid current business conditions. Investors and market watchers will likely be attentive to future developments and any changes in the bank's strategic approach.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for Texas Capital Bancshares Inc (TCBI, Financial) is $80.75 with a high estimate of $90.00 and a low estimate of $70.00. The average target implies an upside of 22.29% from the current price of $66.03. More detailed estimate data can be found on the Texas Capital Bancshares Inc (TCBI) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Texas Capital Bancshares Inc's (TCBI, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Texas Capital Bancshares Inc (TCBI, Financial) in one year is $83.37, suggesting a upside of 26.26% from the current price of $66.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Texas Capital Bancshares Inc (TCBI) Summary page.
