Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by equities researchers at Wedbush from $64.00 to $61.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Wedbush’s price target suggests a potential upside of 8.97% from the stock’s previous close.

A number of other brokerages have also issued reports on TCBI. Barclays initiated coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They set an “underweight” rating and a $47.00 target price for the company. Stephens lifted their target price on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Mizuho reissued a “hold” rating and set a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Finally, 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 report on Tuesday, January 23rd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $63.63.

Texas Capital Bancshares Trading Up 0.1 %

Shares of NASDAQ:TCBI opened at $55.98 on Friday. The firm has a fifty day moving average of $58.90 and a two-hundred day moving average of $59.00. The firm has a market capitalization of $2.66 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.97 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 company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results 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). The company had revenue of $245.85 million for the quarter, compared to analyst estimates 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 business earned $0.87 EPS. On average, equities analysts expect that Texas Capital Bancshares will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 purchased at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert W. Stallings acquired 5,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were bought at an average price of $18.81 per share, for a total transaction of $94,050.00. Following the acquisition, the director now owns 140,706 shares in the company, valued at approximately $2,646,679.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings acquired 6,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were bought at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now owns 146,706 shares in the company, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. Insiders have bought 28,000 shares of company stock worth $612,850 in the last quarter. 0.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SummerHaven Investment Management LLC increased its holdings in shares of Texas Capital Bancshares by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after purchasing an additional 175 shares during the period. FMR LLC boosted its position in Texas Capital Bancshares by 7.6% in the third quarter. FMR LLC now owns 2,747 shares of the bank’s stock valued at $162,000 after buying an additional 194 shares in the last quarter. Osaic Holdings Inc. boosted its position in Texas Capital Bancshares by 22.5% in the second quarter. Osaic Holdings Inc. now owns 1,088 shares of the bank’s stock valued at $56,000 after buying an additional 200 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Texas Capital Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after acquiring an additional 208 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Texas Capital Bancshares by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock worth $63,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

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.