Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $73.00 at Stephens

Texas Capital Bancshares (NASDAQ:TCBI) had its target price cut by Stephens from $78.00 to $73.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other analysts also recently weighed in on TCBI. Citigroup cut their price target on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating for the company in a report on Wednesday, March 13th. Truist Financial cut shares of Texas Capital Bancshares from a buy rating to a hold rating and lowered their price objective for the stock from $72.00 to $66.00 in a research report on Monday, April 1st. Barclays began coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They set an underweight rating and a $47.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research report on Thursday, April 4th. Finally, Wedbush lowered their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $63.13.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $58.68 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.78 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.98 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 50-day moving average price of $58.89 and a two-hundred day moving average price of $59.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The business had revenue of $245.85 million during the quarter, compared to the consensus estimate of $251.96 million. During the same period in the prior year, the firm earned $0.87 EPS. Analysts anticipate that Texas Capital Bancshares will post 3.54 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was bought at an average cost of $18.95 per share, for a total transaction of $94,750.00. Following the completion of the transaction, the director now directly owns 101,706 shares in the company, valued at approximately $1,927,328.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings acquired 5,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was bought at an average cost of $18.95 per share, for a total transaction of $94,750.00. Following the completion of the transaction, the director now directly owns 101,706 shares in the company, valued at approximately $1,927,328.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average price of $19.93 per share, with a total value of $79,720.00. Following the completion of the transaction, the director now owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 28,000 shares of company stock worth $612,850. 0.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently modified their holdings of TCBI. Wellington Management Group LLP boosted its stake in Texas Capital Bancshares by 78.0% during the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after acquiring an additional 245,074 shares in the last quarter. Walleye Capital LLC boosted its stake in Texas Capital Bancshares by 63.9% during the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after acquiring an additional 67,964 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after acquiring an additional 85,793 shares in the last quarter. First Dallas Securities Inc. bought a new position in Texas Capital Bancshares during the third quarter worth $1,178,000. Finally, North Reef Capital Management LP boosted its stake in Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after acquiring an additional 722,250 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Company Profile

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.