Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $80.00 at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI) had its price target trimmed by Raymond James from $87.00 to $80.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Several other analysts have also recently commented on TCBI. Piper Sandler reduced their price objective on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday. DA Davidson decreased their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. 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 note on Tuesday, January 28th. Barclays decreased their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.64.

Texas Capital Bancshares Trading Down 2.8 %

Shares of Texas Capital Bancshares stock opened at $64.21 on Monday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares has a 52-week low of $56.24 and a 52-week high of $91.80. The company’s 50-day simple moving average is $72.90 and its 200-day simple moving average is $78.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $284.40 million. As a group, equities research analysts anticipate 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 bought 5,670 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the transaction, the director now owns 180,893 shares of the company’s stock, valued at $4,992,646.80. This represents a 3.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 29,402 shares of company stock worth $653,787. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its holdings in Texas Capital Bancshares by 1,575.0% in the fourth quarter. US Bancorp DE now owns 10,519 shares of the bank’s stock valued at $823,000 after purchasing an additional 9,891 shares during the period. Victory Capital Management Inc. grew its stake in shares of Texas Capital Bancshares by 37.5% during the 4th quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank’s stock valued at $7,538,000 after buying an additional 26,294 shares during the period. Barclays PLC raised its position in shares of Texas Capital Bancshares by 19.6% in the 3rd quarter. Barclays PLC now owns 108,950 shares of the bank’s stock worth $7,786,000 after buying an additional 17,863 shares during the period. Martingale Asset Management L P acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $1,329,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Texas Capital Bancshares in the 4th quarter worth about $1,688,000. Institutional investors and hedge funds 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.