Wedbush Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target cut by Wedbush from $64.00 to $61.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the bank’s stock. 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 analysts also recently issued reports on the stock. Truist Financial downgraded shares of Texas Capital Bancshares from a buy rating to a hold rating and cut their price objective for the company from $72.00 to $66.00 in a report on Monday, April 1st. Jefferies Financial Group cut their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating for the company in a report on Monday, April 8th. UBS Group boosted their price objective 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. Mizuho reissued a hold rating and issued a $66.00 price objective (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Finally, Stephens boosted their price objective on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the company an overweight rating in a report on Monday, January 22nd. 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’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $63.13.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $58.68 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.03. The company has a 50-day simple moving average of $58.89 and a 200 day simple moving average of $59.03. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.24). The company had revenue of $245.85 million for the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.87 EPS. On average, sell-side analysts predict that Texas Capital Bancshares will post 3.53 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average price of $19.93 per share, with a total value of $79,720.00. Following the acquisition, the director now owns 131,706 shares in the company, valued at approximately $2,624,900.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert W. Stallings acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the transaction, the director now directly owns 131,706 shares in the company, valued at $2,624,900.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings acquired 6,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average price of $18.64 per share, with a total value of $111,840.00. Following the completion of the transaction, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 23,000 shares of company stock valued at $518,100. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Texas Capital Bancshares by 78.0% during the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after purchasing an additional 245,074 shares in the last quarter. Walleye Capital LLC increased its position in Texas Capital Bancshares by 63.9% in the 3rd quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock valued at $10,267,000 after acquiring an additional 67,964 shares during the period. New York State Common Retirement Fund increased its position in Texas Capital Bancshares by 131.9% in the 3rd quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock valued at $8,884,000 after acquiring an additional 85,793 shares during the period. First Dallas Securities Inc. acquired a new position in Texas Capital Bancshares in the 3rd quarter valued at approximately $1,178,000. Finally, North Reef Capital Management LP increased its position in Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after acquiring an additional 722,250 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.