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

Texas Capital Bancshares (NASDAQ:TCBI) had its price target cut by investment analysts at Stephens from $78.00 to $73.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Stephens’ target price would indicate a potential upside of 26.98% from the stock’s previous close.

TCBI has been the topic of a number of other reports. UBS Group boosted their price target on Texas Capital Bancshares from $56.00 to $57.00 and gave the stock a “sell” rating in a research report on Tuesday, January 23rd. Mizuho reissued a “hold” rating and issued a $66.00 target price (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Raymond James downgraded Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a 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 on the stock in a research note on Friday. Finally, Jefferies Financial Group cut their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Four 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.13.

Texas Capital Bancshares Stock Up 2.7 %

Shares of NASDAQ:TCBI traded up $1.51 during midday trading on Friday, reaching $57.49. The company’s stock had a trading volume of 127,455 shares, compared to its average volume of 460,315. 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 firm has a 50 day moving average of $58.90 and a 200-day moving average of $59.00. The firm has a market capitalization of $2.73 billion, a P/E ratio of 16.06, a PEG ratio of 1.97 and a beta of 1.19. Texas Capital Bancshares has a 12-month low of $42.79 and a 12-month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a return on equity of 7.28% and a net margin of 10.56%. The business had revenue of $245.85 million for the quarter, compared to the consensus estimate of $251.96 million. During the same period in the previous year, the firm earned $0.87 EPS. On average, research analysts anticipate that Texas Capital Bancshares will post 3.55 earnings per share for the current year.

Insider Activity

In related news, Director Robert W. Stallings bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were bought at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the completion of the acquisition, the director now owns 117,706 shares of the company’s stock, valued at approximately $2,247,007.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the completion of the transaction, the director now owns 117,706 shares in the company, valued at $2,247,007.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas E. Long bought 2,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Insiders purchased 28,000 shares of company stock valued at $612,850 over the last three months. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently added to or reduced their stakes in TCBI. Price T Rowe Associates Inc. MD boosted its stake in shares of Texas Capital Bancshares by 68.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock worth $119,964,000 after acquiring an additional 927,419 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Texas Capital Bancshares by 26.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock worth $219,159,000 after purchasing an additional 762,038 shares during the period. North Reef Capital Management LP lifted its position in Texas Capital Bancshares by 99.2% during 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 purchasing an additional 722,250 shares in the last quarter. Wellington Management Group LLP grew its holdings in Texas Capital Bancshares by 97.9% during the fourth 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 period. Finally, Norges Bank bought a new stake in Texas Capital Bancshares during the fourth quarter valued at about $35,120,000. 96.88% of the stock is currently owned by institutional investors.

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.