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

Texas Capital Bancshares (NASDAQ:TCBI) had its target price cut by equities research analysts at Wedbush from $64.00 to $61.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Wedbush’s price target would suggest a potential upside of 3.95% from the company’s current price. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.22 EPS.

A number of other research analysts have also recently weighed in on the stock. Hovde Group lowered their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research note on Friday. Barclays started coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target on the stock. Jefferies Financial Group decreased their price target on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Truist Financial cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating and decreased their price target for the stock from $72.00 to $66.00 in a research note on Monday, April 1st. Finally, Stephens boosted their price target on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.13.

Texas Capital Bancshares Stock Up 4.8 %

TCBI opened at $58.68 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.03. Texas Capital Bancshares has a fifty-two week low of $42.79 and a fifty-two week high of $66.18. The firm’s fifty day moving average is $58.89 and its 200 day moving average is $59.01. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The firm had revenue of $245.85 million for the quarter, compared to analysts’ expectations of $251.96 million. During the same quarter last year, the firm posted $0.87 EPS. On average, sell-side analysts forecast that Texas Capital Bancshares will post 3.54 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average cost of $18.95 per share, for a total transaction of $94,750.00. Following the acquisition, the director now owns 101,706 shares of the company’s stock, valued at approximately $1,927,328.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average cost of $18.95 per share, for a total transaction of $94,750.00. Following the acquisition, the director now owns 101,706 shares of the company’s stock, valued at approximately $1,927,328.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the acquisition, the director now directly owns 146,706 shares in the company, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 28,000 shares of company stock worth $612,850. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in Texas Capital Bancshares by 78.0% in the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after acquiring an additional 245,074 shares in the last quarter. Walleye Capital LLC grew its stake in Texas Capital Bancshares by 63.9% in the 3rd quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after acquiring an additional 67,964 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock valued at $8,884,000 after purchasing an additional 85,793 shares in the last quarter. First Dallas Securities Inc. bought a new position in shares of Texas Capital Bancshares during the third quarter valued at approximately $1,178,000. Finally, North Reef Capital Management LP boosted its stake in shares of Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after purchasing an additional 722,250 shares in the last quarter. 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.