Texas Capital Bancshares (NASDAQ:TCBI) Given New $61.00 Price Target at Wedbush

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by Wedbush from $64.00 to $61.00 in a research note published on Friday morning, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.22 EPS.

A number of other research firms also recently weighed in on TCBI. 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 report on Monday, April 8th. UBS Group lifted their price target on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a sell rating in a research report on Tuesday, January 23rd. Raymond James downgraded shares of Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research report on Thursday, April 4th. Citigroup dropped their price target on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Finally, Truist Financial downgraded shares of Texas Capital Bancshares from a buy rating to a hold rating and dropped their price target for the company from $72.00 to $66.00 in a research report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $63.13.

Texas Capital Bancshares Trading Up 4.8 %

Shares of TCBI stock opened at $58.68 on Friday. The firm has a 50 day moving average price of $58.89 and a two-hundred day moving average price of $59.00. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.78 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. Texas Capital Bancshares has a 12-month low of $42.79 and a 12-month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The business had revenue of $245.85 million during the quarter, compared to analyst estimates of $251.96 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. As a group, analysts predict that Texas Capital Bancshares will post 3.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas E. Long bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Thomas E. Long bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings bought 6,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the purchase, the director now owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 28,000 shares of company stock valued at $612,850. 0.99% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Texas Capital Bancshares by 78.0% in the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after purchasing an additional 245,074 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Texas Capital Bancshares by 63.9% in the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after purchasing an additional 67,964 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Texas Capital Bancshares by 131.9% in the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank’s stock worth $8,884,000 after purchasing an additional 85,793 shares during the last quarter. First Dallas Securities Inc. bought a new stake in shares of Texas Capital Bancshares in the third quarter worth $1,178,000. Finally, North Reef Capital Management LP grew its stake in shares of Texas Capital Bancshares by 99.2% in the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares during the last quarter. 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.