Royal Bank of Canada Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $66.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price dropped by research analysts at Royal Bank of Canada from $68.00 to $66.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 15.51% from the company’s previous close.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Wedbush dropped their target price on shares of Texas Capital Bancshares from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, January 19th. UBS Group lifted their target price on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Jefferies Financial Group dropped their price target on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a research note on Monday. Finally, Stephens boosted their price target on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.45.

Texas Capital Bancshares Stock Down 4.6 %

Shares of NASDAQ TCBI opened at $57.14 on Tuesday. The company has a 50 day simple moving average of $59.31 and a 200-day simple moving average of $59.10. The company has a market capitalization of $2.71 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares has a 1 year low of $42.79 and a 1 year high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. The company had revenue of $245.85 million during the quarter, compared to analyst estimates of $251.96 million. During the same quarter last year, the business posted $0.87 EPS. On average, equities research analysts predict that Texas Capital Bancshares will post 3.56 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $18.64 per share, with a total value of $111,840.00. Following the transaction, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert W. Stallings purchased 6,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $18.64 per share, with a total value of $111,840.00. Following the completion of the transaction, the director now directly owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Stallings purchased 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $19.09 per share, with a total value of $95,450.00. Following the completion of the transaction, the director now owns 117,706 shares of the company’s stock, valued at $2,247,007.54. The disclosure for this purchase can be found here. In the last three months, insiders bought 28,000 shares of company stock valued at $612,850. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mather Group LLC. acquired a new position in Texas Capital Bancshares in the first quarter valued at $50,000. CWM LLC increased its stake in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after purchasing an additional 546 shares during the period. Vanguard Group Inc. increased its stake in Texas Capital Bancshares by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares during the period. Wellington Management Group LLP increased its stake in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Texas Capital Bancshares by 42.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after acquiring an additional 161,643 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.