Jefferies Financial Group Trims Texas Capital Bancshares (NASDAQ:TCBI) Target Price to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lowered by research analysts at Jefferies Financial Group from $64.00 to $61.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s target price indicates a potential upside of 0.28% from the company’s previous close.

A number of other research firms have also commented on TCBI. Mizuho restated a “hold” rating and issued a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Hovde Group reduced their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research note on Friday, April 19th. Truist Financial decreased their price objective on Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their target price on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, Wedbush decreased their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded down $0.80 during midday trading on Wednesday, reaching $60.83. 78,192 shares of the stock were exchanged, compared to its average volume of 418,161. Texas Capital Bancshares has a twelve month low of $50.40 and a twelve month high of $66.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.54 and a beta of 1.15. The business’s 50-day moving average price is $59.48 and its 200 day moving average price is $60.14.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $256.33 million during the quarter, compared to analysts’ expectations of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. On average, sell-side analysts expect that Texas Capital Bancshares will post 3.46 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 3,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $19.50 per share, with a total value of $58,500.00. Following the purchase, the director now directly owns 156,706 shares in the company, valued at approximately $3,055,767. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $19.50 per share, with a total value of $58,500.00. Following the completion of the purchase, the director now directly owns 156,706 shares in the company, valued at $3,055,767. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of $19.52 per share, with a total value of $117,120.00. Following the purchase, the director now directly owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 15,004 shares of company stock valued at $292,878. Insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in TCBI. Vanguard Group Inc. boosted its stake in Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after buying an additional 68,211 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Texas Capital Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after purchasing an additional 80,311 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares during the last quarter. Heartland Advisors Inc. grew its stake in shares of Texas Capital Bancshares by 7.8% during the 4th quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock valued at $54,442,000 after buying an additional 59,132 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Texas Capital Bancshares by 8.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock valued at $46,551,000 after buying an additional 56,495 shares during the period. 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.