Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $84.00 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price target cut by investment analysts at Hovde Group from $90.00 to $84.00 in a report released on Friday, MarketBeat Ratings reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 13.50% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped 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 research note on Friday, January 24th. DA Davidson dropped their price target on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Barclays boosted their target price on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $79.47.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $74.01 on Friday. The company has a 50-day simple moving average of $78.84 and a 200-day simple moving average of $77.81. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.41 billion, a PE ratio of 57.82, a P/E/G ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Equities research analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $21.10 per share, for a total transaction of $147,700.00. Following the completion of the transaction, the director now owns 202,413 shares in the company, valued at $4,270,914.30. The trade was a 3.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 29,402 shares of company stock valued at $653,787 over the last 90 days. 0.99% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC raised its holdings in Texas Capital Bancshares by 367.3% during the 3rd quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after buying an additional 17,540 shares during the period. Jane Street Group LLC boosted its position in Texas Capital Bancshares by 107.2% during the third quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after purchasing an additional 68,632 shares during the period. LMR Partners LLP bought a new stake in Texas Capital Bancshares during the third quarter worth approximately $740,000. Wolverine Asset Management LLC boosted its position in shares of Texas Capital Bancshares by 23.6% in the third quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank’s stock valued at $2,933,000 after acquiring an additional 7,849 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Texas Capital Bancshares by 19.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock valued at $4,045,000 after acquiring an additional 9,225 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.