Stephens Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by Stephens from $78.00 to $73.00 in a report published on Friday morning, Benzinga reports. Stephens currently has an overweight rating on the bank’s stock.

A number of other brokerages also recently issued reports on TCBI. Raymond James downgraded Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research report on Thursday, April 4th. Hovde Group dropped their price target on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating for the company in a research report on Friday. Mizuho reissued a hold rating and issued a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Citigroup lowered their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. cut their target price on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating on the stock in a research report on Thursday, April 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $63.58.

Texas Capital Bancshares Trading Up 0.9 %

Shares of Texas Capital Bancshares stock opened at $59.20 on Friday. The stock has a 50 day moving average of $58.88 and a 200 day moving average of $59.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.08 and a beta of 1.19. Texas Capital Bancshares has a fifty-two week low of $42.79 and a fifty-two week high of $66.18.

Insider Activity at Texas Capital Bancshares

In related news, Director Thomas E. Long bought 2,000 shares of the stock in a transaction that occurred 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, February 5th. The shares were acquired at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now owns 146,706 shares of the company’s stock, valued at $2,734,599.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 23,000 shares of company stock worth $518,100. Company insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaMark Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 14.2% in the 1st quarter. AlphaMark Advisors LLC now owns 4,711 shares of the bank’s stock valued at $290,000 after acquiring an additional 587 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in Texas Capital Bancshares by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after purchasing an additional 28,650 shares in the last quarter. Mather Group LLC. purchased a new position in Texas Capital Bancshares in the first quarter valued at approximately $50,000. CWM LLC increased 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 purchasing an additional 546 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Texas Capital Bancshares by 1.4% during the fourth 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 in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.