Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective dropped by stock analysts at Truist Financial from $66.00 to $61.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 1.40% from the company’s previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Barclays assumed coverage on Texas Capital Bancshares in a research report on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective for the company. Jefferies Financial Group lowered their price objective on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Stephens lowered their price objective on Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Hovde Group lowered their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research report on Friday, April 19th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $60.16 on Monday. The stock has a fifty day moving average of $58.96 and a 200 day moving average of $59.04. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.08 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now owns 146,706 shares of the company’s stock, valued at $2,734,599.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $18.81 per share, for a total transaction of $94,050.00. Following the purchase, the director now directly owns 140,706 shares in the company, valued at approximately $2,646,679.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at $2,734,599.84. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 23,000 shares of company stock worth $518,100. 1.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the period. Atwood & Palmer Inc. purchased a new stake in Texas Capital Bancshares in the third quarter worth $47,000. Mather Group LLC. purchased a new stake in Texas Capital Bancshares in the first quarter worth $50,000. Headlands Technologies LLC increased its stake in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after buying an additional 476 shares during the period. Finally, Strs Ohio boosted its position in Texas Capital Bancshares by 133.3% during the third quarter. Strs Ohio now owns 2,100 shares of the bank’s stock valued at $123,000 after purchasing an additional 1,200 shares in the last quarter. 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.