Keefe, Bruyette & Woods Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target reduced by Keefe, Bruyette & Woods from $76.00 to $74.00 in a research report released on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Several other research firms have also issued reports on TCBI. UBS Group lifted their price objective on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a sell rating in a research note on Tuesday, January 23rd. Mizuho reaffirmed a hold rating and set a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Hovde Group dropped their price target on Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating for the company in a research note on Friday. Royal Bank of Canada dropped their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group dropped their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating for the company in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Price Performance

NASDAQ:TCBI opened at $59.20 on Monday. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.08 and a beta of 1.19. Texas Capital Bancshares has a 52-week low of $42.79 and a 52-week high of $66.18. The stock has a fifty day moving average of $58.88 and a 200 day moving average of $59.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the completion of the acquisition, the director now owns 131,706 shares in the company, valued at $2,624,900.58. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, January 25th. The shares were bought at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the acquisition, the director now directly owns 117,706 shares in the company, valued at $2,247,007.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the acquisition, the director now owns 131,706 shares in the company, valued at $2,624,900.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 23,000 shares of company stock worth $518,100. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 245,074 shares during the period. Walleye Capital LLC grew its holdings in shares of Texas Capital Bancshares by 63.9% during 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 during the period. New York State Common Retirement Fund grew its holdings in shares of Texas Capital Bancshares by 131.9% during the 3rd quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after acquiring an additional 85,793 shares during the period. First Dallas Securities Inc. purchased a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $1,178,000. Finally, North Reef Capital Management LP grew its holdings in shares of Texas Capital Bancshares by 99.2% during the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after acquiring an additional 722,250 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

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.