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

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by investment analysts at Stephens from $78.00 to $73.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Stephens’ price objective indicates a potential upside of 24.40% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Truist Financial downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating and reduced their price target for the company from $72.00 to $66.00 in a report on Monday, April 1st. Hovde Group reduced their price target on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday. UBS Group boosted their price target on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, Citigroup reduced their price target on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.13.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $58.68 on Friday. The company has a market cap of $2.78 billion, a PE ratio of 17.78, a P/E/G ratio of 1.98 and a beta of 1.19. The company has a fifty day moving average price of $58.89 and a two-hundred day moving average price of $59.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.01. 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 released its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). The business had revenue of $245.85 million during the quarter, compared to analyst estimates of $251.96 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. During the same period in the prior year, the firm earned $0.87 EPS. Research analysts expect that Texas Capital Bancshares will post 3.54 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In related news, Director Thomas E. Long acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Texas Capital Bancshares news, Director Thomas E. Long purchased 2,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were 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 owns 7,542 shares in the company, valued at $443,318.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the transaction, the director now owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 28,000 shares of company stock worth $612,850 over the last ninety days. 0.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC raised its position in Texas Capital Bancshares by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after acquiring an additional 175 shares in the last quarter. FMR LLC raised its holdings in Texas Capital Bancshares by 7.6% during the 3rd quarter. FMR LLC now owns 2,747 shares of the bank’s stock worth $162,000 after buying an additional 194 shares during the period. Osaic Holdings Inc. raised its holdings in Texas Capital Bancshares by 22.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,088 shares of the bank’s stock worth $56,000 after buying an additional 200 shares during the period. Retirement Systems of Alabama raised its holdings in Texas Capital Bancshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after buying an additional 208 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Texas Capital Bancshares by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock worth $63,000 after buying an additional 210 shares during the period. 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.