Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Receives $64.45 Average Target Price from Brokerages

Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have been given a consensus rating of “Reduce” by the eleven analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $64.45.

A number of brokerages recently issued reports on TCBI. Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a report on Monday, April 8th. Wedbush dropped their price target on Texas Capital Bancshares from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. cut their price target on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Finally, Barclays assumed coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They set an “underweight” rating and a $47.00 target price on the stock.

Texas Capital Bancshares Stock Up 0.7 %

Shares of TCBI opened at $55.92 on Monday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.99 and a beta of 1.19. Texas Capital Bancshares has a 12-month low of $42.79 and a 12-month high of $66.18. The firm has a fifty day moving average price of $58.97 and a 200-day moving average price of $59.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.24). The company had revenue of $245.85 million during the quarter, compared to analysts’ expectations of $251.96 million. Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. During the same period last year, the firm earned $0.87 earnings per share. Equities research analysts expect that Texas Capital Bancshares will post 3.55 earnings per share for the current year.

Insider Activity

In other news, Director Thomas E. Long acquired 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the acquisition, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the purchase, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 28,000 shares of company stock worth $612,850. Corporate insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in Texas Capital Bancshares by 68.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock valued at $119,964,000 after purchasing an additional 927,419 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 26.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock valued at $219,159,000 after acquiring an additional 762,038 shares during the period. North Reef Capital Management LP increased its position in shares of Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after acquiring an additional 722,250 shares during the period. Wellington Management Group LLP raised its stake in Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after acquiring an additional 547,336 shares during the last quarter. Finally, Norges Bank acquired a new stake in Texas Capital Bancshares during the 4th quarter worth about $35,120,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.