Texas Capital Bancshares (NASDAQ:TCBI) PT Lowered to $65.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBIGet 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.

Texas Capital Bancshares (NASDAQ:TCBIGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The firm had revenue of $203.83 million during the quarter, compared to the consensus estimate of $213.06 million. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, equities analysts expect that Texas Capital Bancshares will post 3.23 EPS for the current year.

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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