Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $61.50 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by analysts at Hovde Group from $87.50 to $61.50 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would indicate a potential upside of 9.86% from the stock’s previous close.

TCBI has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of 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. Raymond James lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Barclays started coverage on 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. Mizuho reiterated a “hold” rating and issued a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Finally, Royal Bank of Canada dropped their price objective on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.21.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ:TCBI opened at $55.98 on Friday. Texas Capital Bancshares has a 12-month low of $42.79 and a 12-month high of $66.18. The company’s 50 day moving average price is $58.90 and its two-hundred day moving average price is $59.00. The firm has a market cap of $2.66 billion, a PE ratio of 15.81, a PEG ratio of 1.97 and a beta of 1.19. 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 quarterly 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 return on equity of 7.28% and a net margin of 10.56%. During the same period in the prior year, the company earned $0.87 EPS. Equities research analysts predict that Texas Capital Bancshares will post 3.55 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. 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 bought 5,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, January 25th. The stock was bought at an average cost of $19.09 per share, for a total transaction of $95,450.00. Following the purchase, the director now directly owns 117,706 shares in the company, valued at approximately $2,247,007.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Long acquired 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the purchase, the director now directly owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 28,000 shares of company stock valued at $612,850. 0.99% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at $261,000. HighTower Advisors LLC boosted its holdings in Texas Capital Bancshares by 3.7% in the 1st quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock worth $537,000 after buying an additional 337 shares during the period. Natixis Advisors L.P. grew its position in shares of Texas Capital Bancshares by 3.1% in the first quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock valued at $614,000 after purchasing an additional 326 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Texas Capital Bancshares by 39.3% during the 1st quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock valued at $3,363,000 after purchasing an additional 16,567 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Texas Capital Bancshares by 0.8% during the 1st quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock worth $9,359,000 after purchasing an additional 1,327 shares in the last quarter. 96.88% of the stock is owned by 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.