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

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

Other equities analysts have also recently issued research reports about the company. Raymond James cut Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Barclays initiated coverage on Texas Capital Bancshares in a report on Friday, March 8th. They set an “underweight” rating and a $47.00 target price for the company. 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 report on Monday, April 1st. Stephens increased their target price on Texas Capital Bancshares from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, Truist Financial cut Texas Capital Bancshares from a “buy” rating to a “hold” rating and reduced their target price for the company from $72.00 to $66.00 in a report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.63.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $55.98 on Friday. 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 has a twelve month low of $42.79 and a twelve month high of $66.18. The business has a 50-day moving average price of $58.90 and a 200 day moving average price of $59.00. The firm has a market cap of $2.66 billion, a PE ratio of 15.81, a P/E/G ratio of 1.97 and a beta of 1.19.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. The business had revenue of $245.85 million during the quarter, compared to analysts’ expectations of $251.96 million. During the same quarter in the prior year, the firm earned $0.87 EPS. Sell-side analysts predict that Texas Capital Bancshares will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were acquired at an average cost of $18.95 per share, with a total value of $94,750.00. Following the purchase, the director now owns 101,706 shares of the company’s stock, valued at $1,927,328.70. The disclosure for this purchase can be found here. Insiders acquired a total of 28,000 shares of company stock valued at $612,850 over the last quarter. 0.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Lazard Asset Management LLC acquired a new stake in Texas Capital Bancshares during the third quarter worth $32,000. CWM LLC boosted its position in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares during the period. US Bancorp DE boosted its position in shares of Texas Capital Bancshares by 165.7% during the fourth quarter. US Bancorp DE now owns 667 shares of the bank’s stock worth $43,000 after buying an additional 416 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Texas Capital Bancshares during the third quarter worth $47,000. Finally, Mather Group LLC. purchased a new position in shares of Texas Capital Bancshares during the first quarter worth $50,000. Institutional investors and hedge funds 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.