Truist Financial Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price reduced by stock analysts at Truist Financial from $66.00 to $61.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective suggests a potential upside of 1.40% from the stock’s previous close.

Several other brokerages also recently commented on TCBI. Royal Bank of Canada dropped 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. Stephens dropped their price target on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Citigroup dropped 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 research note on Wednesday, March 13th. UBS Group raised their price target on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd. Finally, Wedbush dropped their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.58.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI opened at $60.16 on Monday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $58.96 and a 200 day simple moving average of $59.04. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18.

Insiders Place Their Bets

In related news, Director Thomas E. Long purchased 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Texas Capital Bancshares news, Director Thomas E. Long acquired 2,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at $443,318.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the completion of the transaction, the director now directly owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 23,000 shares of company stock worth $518,100. 1.53% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Texas Capital Bancshares by 78.0% in the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock valued at $32,937,000 after purchasing an additional 245,074 shares during the period. Walleye Capital LLC grew 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 valued at $10,267,000 after acquiring an additional 67,964 shares in the last quarter. New York State Common Retirement Fund grew 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 valued at $8,884,000 after acquiring an additional 85,793 shares in the last quarter. First Dallas Securities Inc. purchased a new position in Texas Capital Bancshares during the third quarter valued at approximately $1,178,000. Finally, North Reef Capital Management LP grew 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 valued at $85,405,000 after acquiring an additional 722,250 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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.