Texas Capital Bancshares (NASDAQ:TCBI) Given New $61.50 Price Target at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by Hovde Group from $87.50 to $61.50 in a research note published on Friday morning, MarketBeat reports. Hovde Group currently has a market perform rating on the bank’s stock.

Several other equities research analysts have also weighed in on TCBI. Mizuho reissued a hold rating and set a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Truist Financial lowered Texas Capital Bancshares from a buy rating to a hold rating and cut their target price for the stock from $72.00 to $66.00 in a research report on Monday, April 1st. Stephens raised their target price on Texas Capital Bancshares from $78.00 to $79.00 and gave the stock an overweight rating in a research report on Monday, January 22nd. Royal Bank of Canada cut their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating on the stock in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating on the stock in a research report on Thursday, April 4th. 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 stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of Hold and a consensus price target of $63.13.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $58.68 on Friday. The stock has a 50-day simple moving average of $58.89 and a 200-day simple moving average of $59.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a market capitalization of $2.78 billion, a PE ratio of 17.78, a PEG ratio of 1.98 and a beta of 1.19. 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 announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.24). The company had revenue of $245.85 million during the quarter, compared to analysts’ expectations of $251.96 million. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. During the same quarter in the previous year, the business posted $0.87 EPS. On average, analysts predict that Texas Capital Bancshares will post 3.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 6,000 shares of the 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas E. Long purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the purchase, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 28,000 shares of company stock worth $612,850. 0.99% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Texas Capital Bancshares in the first quarter valued at approximately $261,000. HighTower Advisors LLC raised its holdings in shares of Texas Capital Bancshares by 3.7% in the first quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock worth $537,000 after acquiring an additional 337 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Texas Capital Bancshares by 3.1% in the first quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock worth $614,000 after acquiring an additional 326 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Texas Capital Bancshares by 39.3% in the first quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock worth $3,363,000 after acquiring an additional 16,567 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Texas Capital Bancshares by 0.8% in the first quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock worth $9,359,000 after acquiring an additional 1,327 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.