Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $61.00 at Jefferies Financial Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by analysts at Jefferies Financial Group from $64.00 to $61.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 0.28% from the company’s current price.

Several other research analysts also recently weighed in on TCBI. Keefe, Bruyette & Woods dropped their price target on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. 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. Wedbush decreased their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Citigroup dropped their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, Royal Bank of Canada reduced their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus target price of $63.58.

Texas Capital Bancshares Price Performance

Shares of TCBI traded down $0.80 during trading hours on Wednesday, reaching $60.83. 78,192 shares of the stock traded hands, compared to its average volume of 418,161. The company has a market cap of $2.84 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $59.48 and its two-hundred day moving average price is $60.14. Texas Capital Bancshares has a 52-week low of $50.40 and a 52-week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $256.33 million for the quarter, compared to the consensus estimate of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. On average, analysts anticipate that Texas Capital Bancshares will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $19.50 per share, with a total value of $58,500.00. Following the purchase, the director now owns 156,706 shares of the company’s stock, valued at $3,055,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction on Monday, May 20th. The shares were bought at an average cost of $19.52 per share, for a total transaction of $117,120.00. Following the acquisition, the director now directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $19.50 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director now directly owns 156,706 shares of the company’s stock, valued at $3,055,767. The disclosure for this purchase can be found here. Insiders purchased a total of 15,004 shares of company stock worth $292,878 over the last three months. 1.53% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently bought and sold shares of TCBI. CWM LLC grew its position in shares of Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. purchased a new position in Texas Capital Bancshares in the first quarter worth $50,000. Fidelis Capital Partners LLC acquired a new position in shares of Texas Capital Bancshares during the first quarter worth $54,000. Headlands Technologies LLC lifted its holdings in shares of Texas Capital Bancshares by 41.9% during the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Texas Capital Bancshares during the 4th quarter worth $139,000. 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.