Texas Capital Bancshares (NASDAQ:TCBI) PT Lowered to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective trimmed by Truist Financial from $66.00 to $61.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

Other analysts have also recently issued reports about the company. Wedbush lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Stephens lowered their price target on Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Hovde Group lowered their price target on Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating on the stock in a research report on Friday, April 19th. Barclays initiated coverage on Texas Capital Bancshares in a research report on Friday, March 8th. They issued an underweight rating and a $47.00 price target on the stock. Finally, Mizuho reiterated a hold rating and issued a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $63.58.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $58.61 on Monday. The business has a fifty day simple moving average of $58.97 and a 200 day simple moving average of $59.05. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.15 and a beta of 1.19. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the completion of the acquisition, the director now directly owns 131,706 shares in the company, valued at $2,624,900.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert W. Stallings purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the completion of the acquisition, the director now directly owns 131,706 shares in the company, valued at $2,624,900.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased 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 of the company’s stock, valued at $2,646,679.86. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 18,000 shares of company stock worth $422,650. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Texas Capital Bancshares by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares during the period. Dimensional Fund Advisors LP lifted its stake in Texas Capital Bancshares by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after buying an additional 80,311 shares during the period. North Reef Capital Management LP lifted its stake in Texas Capital Bancshares by 99.2% in the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after buying an additional 722,250 shares during the period. Bank of New York Mellon Corp lifted its stake in Texas Capital Bancshares by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock valued at $76,045,000 after buying an additional 4,210 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the period. Institutional investors 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.