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

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by Jefferies Financial Group from $64.00 to $61.00 in a report released on Wednesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the bank’s stock.

Several other research firms have also commented on TCBI. JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research note on Thursday, April 4th. Raymond James lowered Texas Capital Bancshares from a strong-buy rating to a market perform rating in a report on Thursday, April 4th. Royal Bank of Canada dropped their target price on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a report on Tuesday, April 9th. Barclays began coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They issued an underweight rating and a $47.00 target price for the company. Finally, Stephens dropped their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a research note on Friday, April 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $63.58.

Texas Capital Bancshares Trading Down 1.9 %

Shares of NASDAQ:TCBI opened at $60.48 on Wednesday. The business’s 50 day moving average price is $59.48 and its 200-day moving average price is $60.14. Texas Capital Bancshares has a 1 year low of $50.40 and a 1 year high of $66.18. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $256.33 million for the quarter, compared to the consensus estimate of $253.27 million. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. On average, equities research analysts forecast that Texas Capital Bancshares will post 3.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the purchase, the director now directly owns 169,706 shares in the company, valued at approximately $3,285,508.16. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the completion of the transaction, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average price of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the acquisition, the director now owns 169,706 shares in the company, valued at approximately $3,285,508.16. The disclosure for this purchase can be found here. Insiders acquired a total of 15,004 shares of company stock valued at $292,878 over the last quarter. 1.53% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 68,211 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Texas Capital Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after acquiring an additional 80,311 shares during the period. Wellington Management Group LLP grew its position in 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 acquiring an additional 547,336 shares in the last quarter. Heartland Advisors Inc. increased its stake in Texas Capital Bancshares by 7.8% during the fourth quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock worth $54,442,000 after purchasing an additional 59,132 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Texas Capital Bancshares by 8.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock worth $46,551,000 after purchasing an additional 56,495 shares during the period. 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.