Texas Capital Bancshares (NASDAQ:TCBI) Coverage Initiated at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group started coverage on shares of Texas Capital Bancshares (NASDAQ:TCBI) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $80.00 price target on the bank’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 11.03% from the company’s previous close.

TCBI has been the topic of several other reports. Stephens decreased their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Barclays decreased their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, DA Davidson reduced their target price on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Three equities research 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. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $78.00.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $72.05 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $70.30 and its 200 day moving average price is $77.22. The company has a market capitalization of $3.31 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. Texas Capital Bancshares has a 1 year low of $56.24 and a 1 year high of $91.80.

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 the consensus estimate of $0.99 by ($0.07). The company 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, research analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 owns 49,500 shares in the company, valued at approximately $1,011,285. This trade represents a 16.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders bought 19,300 shares of company stock worth $850,815. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Texas Capital Bancshares by 84.8% during the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank’s stock worth $105,395,000 after buying an additional 657,630 shares during the period. Norges Bank purchased a new position in Texas Capital Bancshares during the fourth quarter worth about $42,050,000. Nuveen LLC purchased a new position in Texas Capital Bancshares during the first quarter worth about $25,808,000. Azora Capital LP purchased a new position in Texas Capital Bancshares during the fourth quarter worth about $25,232,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank’s stock worth $18,630,000 after buying an additional 238,785 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.