Keefe, Bruyette & Woods Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price trimmed by Keefe, Bruyette & Woods from $76.00 to $74.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

A number of other research analysts also recently issued reports on TCBI. Barclays assumed coverage on Texas Capital Bancshares in a report on Friday, March 8th. They issued an underweight rating and a $47.00 price target for the company. Hovde Group decreased their price target on Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating for the company in a report on Friday, April 19th. Raymond James downgraded Texas Capital Bancshares from a strong-buy rating to a market perform rating in a report on Thursday, April 4th. JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a report on Thursday, April 4th. Finally, UBS Group boosted their price target on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a sell rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $60.12 on Monday. The business’s 50 day moving average price is $59.01 and its 200 day moving average price is $59.05. The firm has a market cap of $2.80 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.09 and a beta of 1.19. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 5,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was bought at an average cost of $18.81 per share, for a total transaction of $94,050.00. Following the acquisition, the director now directly owns 140,706 shares in the company, valued at $2,646,679.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert W. Stallings bought 6,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares in the company, valued at $2,734,599.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Stallings bought 5,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $18.81 per share, with a total value of $94,050.00. Following the completion of the acquisition, the director now owns 140,706 shares in the company, valued at $2,646,679.86. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 18,000 shares of company stock valued at $422,650. 1.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after purchasing an additional 68,211 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Texas Capital Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after purchasing an additional 80,311 shares during the period. North Reef Capital Management LP grew its holdings in shares of Texas Capital Bancshares by 99.2% during the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares during the period. Bank of New York Mellon Corp boosted its holdings in Texas Capital Bancshares by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock valued at $76,045,000 after acquiring an additional 4,210 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after acquiring an additional 547,336 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.