Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $74.00 at Piper Sandler

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by Piper Sandler from $84.00 to $74.00 in a research note released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

TCBI has been the subject of several other reports. Stephens reduced their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Finally, Hovde Group dropped 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.64.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $64.21 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap 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. The company’s 50 day moving average price is $72.90 and its two-hundred day moving average price is $78.06. Texas Capital Bancshares has a 52 week low of $56.24 and a 52 week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million for 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, equities analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the transaction, the director now directly owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. The trade was a 16.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders purchased 29,402 shares of company stock worth $653,787. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently added to or reduced their stakes in TCBI. Picton Mahoney Asset Management bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $30,000. Assetmark Inc. bought a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $41,000. Finally, UMB Bank n.a. increased its stake in shares of Texas Capital Bancshares by 1,089.8% in the first quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock worth $44,000 after buying an additional 534 shares during the period. 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.