Texas Capital Bancshares (NASDAQ:TCBI) Given New $75.00 Price Target at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by Hovde Group from $84.00 to $75.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a market perform rating on the bank’s stock.

TCBI has been the subject of a number of other reports. Barclays cut their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Stephens dropped their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, DA Davidson decreased their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.64.

Texas Capital Bancshares Stock Down 2.8 %

TCBI opened at $64.21 on Monday. The stock has a fifty day moving average of $72.90 and a 200-day moving average of $78.06. The company has a market capitalization of $2.96 billion, a P/E ratio of 50.16, a P/E/G ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The business had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. On average, equities analysts expect that Texas Capital Bancshares will post 5.84 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 5,670 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the acquisition, the director now owns 180,893 shares of the company’s stock, valued at approximately $4,992,646.80. This trade represents a 3.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders acquired 29,402 shares of company stock worth $653,787. 1.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TCBI. Barclays PLC grew its position in Texas Capital Bancshares by 19.6% in the 3rd quarter. Barclays PLC now owns 108,950 shares of the bank’s stock valued at $7,786,000 after purchasing an additional 17,863 shares during the period. Sanctuary Advisors LLC acquired a new position in Texas Capital Bancshares during the 3rd quarter valued at about $310,000. Cim Investment Management Inc. bought a new stake in Texas Capital Bancshares during the 3rd quarter worth approximately $212,000. Moody National Bank Trust Division raised its stake in shares of Texas Capital Bancshares by 9.5% in the fourth quarter. Moody National Bank Trust Division now owns 17,371 shares of the bank’s stock worth $1,358,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Texas Capital Bancshares by 5.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,948 shares of the bank’s stock valued at $700,000 after buying an additional 450 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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.