Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $75.00 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price target dropped by analysts at Hovde Group from $84.00 to $75.00 in a research note issued on Monday,Briefing.com Automated Import reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s target price suggests a potential upside of 13.58% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays reduced their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. DA Davidson lowered their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, Stephens reduced their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $79.14.

Texas Capital Bancshares Trading Up 1.4 %

Shares of NASDAQ:TCBI opened at $66.03 on Monday. The company has a 50-day simple moving average of $73.26 and a 200 day simple moving average of $78.12. The company has a market capitalization of $3.05 billion, a P/E ratio of 51.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 52-week low of $56.24 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The business had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Sell-side analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings acquired 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, with a total value of $143,010.00. Following the completion of the purchase, the director now directly owns 49,500 shares of the company’s stock, valued at $1,011,285. The trade was a 16.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 29,402 shares of company stock worth $653,787. 1.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of large investors have recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at about $30,000. Assetmark Inc. bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at approximately $37,000. R Squared Ltd bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at approximately $41,000. Finally, UMB Bank n.a. increased its position in Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock worth $44,000 after purchasing an additional 534 shares in the last quarter. 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.