Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $61.50

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

TCBI has been the subject of several other reports. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 4th. Mizuho reissued a “hold” rating and issued a $66.00 target price (down from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Royal Bank of Canada lowered their price target 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. UBS Group raised their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the stock a “sell” rating in a report on Tuesday, January 23rd. Finally, Wedbush decreased their target price on Texas Capital Bancshares from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $64.21.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $55.98 on Friday. The firm has a 50 day moving average of $58.90 and a two-hundred day moving average of $59.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization 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 has a 52 week low of $42.79 and a 52 week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last announced 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 firm had revenue of $245.85 million during 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 company earned $0.87 earnings per share. On average, research analysts predict that Texas Capital Bancshares will post 3.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was acquired at an average cost of $18.64 per share, with a total value of $111,840.00. Following the acquisition, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $18.64 per share, with a total value of $111,840.00. Following the transaction, the director now directly owns 146,706 shares in the company, valued at approximately $2,734,599.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. Insiders have bought 28,000 shares of company stock worth $612,850 over the last 90 days. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $32,000. US Bancorp DE increased its position in Texas Capital Bancshares by 165.7% in 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. CWM LLC lifted its stake in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at $50,000. Finally, Atwood & Palmer Inc. bought a new position in shares of Texas Capital Bancshares during the third quarter worth about $47,000. Institutional investors and hedge funds 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.