Texas Capital Bancshares (NASDAQ:TCBI) PT Lowered to $61.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by Truist Financial from $66.00 to $61.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

TCBI has been the topic of several other reports. Barclays initiated coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They issued an underweight rating and a $47.00 price objective on the stock. Raymond James cut shares of Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research note on Thursday, April 4th. Stephens dropped their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group cut 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 report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating for the company in a research note on Monday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $60.12 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $2.80 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.09 and a beta of 1.19. The company’s fifty day moving average is $59.01 and its two-hundred day moving average is $59.05. Texas Capital Bancshares has a 1 year low of $42.79 and a 1 year high of $66.18.

Insiders Place Their Bets

In related news, Director Thomas E. Long purchased 2,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was acquired at an average price of $18.81 per share, with a total value of $94,050.00. Following the completion of the transaction, the director now directly owns 140,706 shares in the company, valued at $2,646,679.86. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Long acquired 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $58.78 per share, with a total value of $117,560.00. Following the transaction, 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. Over the last 90 days, insiders purchased 18,000 shares of company stock valued at $422,650. Corporate insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position 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 valued at $32,937,000 after purchasing an additional 245,074 shares during the period. Walleye Capital LLC boosted its holdings in Texas Capital Bancshares by 63.9% in the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock valued at $10,267,000 after acquiring an additional 67,964 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in 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 valued at $8,884,000 after acquiring an additional 85,793 shares during the last quarter. First Dallas Securities Inc. acquired a new position in Texas Capital Bancshares in the third quarter valued at $1,178,000. Finally, North Reef Capital Management LP boosted its holdings in 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 valued at $85,405,000 after acquiring an additional 722,250 shares during the last quarter. Hedge funds and other 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.