Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $70.00 by Analysts at JPMorgan Chase & Co.

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by JPMorgan Chase & Co. from $78.00 to $70.00 in a research note published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Several other analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. DA Davidson lowered their price objective on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Hovde Group cut their target price on Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.64.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock opened at $64.21 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 12 month low of $56.24 and a 12 month high of $91.80. The stock has a 50 day moving average of $72.90 and a 200 day moving average of $78.06. The firm has a market cap of $2.96 billion, a PE ratio of 50.16, a PEG ratio of 0.75 and a beta of 0.74.

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

Insider Activity

In other news, Director Robert W. Stallings acquired 2,006 shares of Texas Capital Bancshares stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the acquisition, the director now directly owns 182,899 shares of the company’s stock, valued at $3,839,050.01. This trade represents a 1.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 29,402 shares of company stock valued at $653,787. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Texas Capital Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock worth $367,327,000 after acquiring an additional 20,245 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Texas Capital Bancshares by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank’s stock valued at $258,505,000 after purchasing an additional 28,282 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock valued at $58,246,000 after buying an additional 138,734 shares during the period. Northern Trust Corp raised its stake in Texas Capital Bancshares by 12.0% in the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank’s stock worth $51,649,000 after buying an additional 70,804 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Texas Capital Bancshares by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock valued at $49,101,000 after acquiring an additional 15,320 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.