Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) had its price objective dropped by research analysts at Truist Financial from $69.00 to $65.00 in a research note issued to investors on Wednesday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 30.55% from the stock’s previous close.
Several other research firms have also issued reports on TCBI. TheStreet lowered Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, April 21st. StockNews.com lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.47.
Shares of Texas Capital Bancshares stock opened at $49.79 on Wednesday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.97 and a beta of 1.59. The stock’s 50-day moving average is $53.84 and its 200-day moving average is $59.32. Texas Capital Bancshares has a one year low of $48.85 and a one year high of $71.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 1.02.
In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 8,000 shares of the stock in a transaction on Monday, April 25th. The shares were purchased at an average price of $52.65 per share, with a total value of $421,200.00. Following the completion of the transaction, the director now directly owns 44,810 shares in the company, valued at $2,359,246.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Larry L. Helm purchased 5,700 shares of the stock in a transaction on Monday, May 2nd. The shares were acquired at an average cost of $52.25 per share, for a total transaction of $297,825.00. Following the transaction, the director now owns 77,858 shares of the company’s stock, valued at $4,068,080.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 20,700 shares of company stock worth $1,087,345. Company insiders own 0.56% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of Texas Capital Bancshares by 5.1% in the first quarter. State Street Corp now owns 3,268,391 shares of the bank’s stock valued at $187,311,000 after purchasing an additional 158,815 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Texas Capital Bancshares by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,582,769 shares of the bank’s stock valued at $148,023,000 after purchasing an additional 70,042 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Texas Capital Bancshares by 3.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,724,106 shares of the bank’s stock valued at $103,877,000 after purchasing an additional 56,069 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Texas Capital Bancshares by 1,374.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank’s stock valued at $91,473,000 after purchasing an additional 1,415,279 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Texas Capital Bancshares by 1.3% in the third quarter. Morgan Stanley now owns 1,464,697 shares of the bank’s stock valued at $87,912,000 after purchasing an additional 19,384 shares during the last quarter. 97.77% of the stock is currently owned by institutional investors.
About Texas Capital Bancshares (Get Rating)
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, and wealth management services.
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