Stephens Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $73.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target reduced by Stephens from $78.00 to $73.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada decreased their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a report on Tuesday, April 9th. UBS Group upped their price objective on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the stock a sell rating in a report on Tuesday, January 23rd. Wedbush decreased their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a research note on Friday. Barclays began 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 target for the company. Finally, Mizuho reiterated a hold rating and issued a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of Hold and a consensus price target of $63.13.

Texas Capital Bancshares Stock Up 4.8 %

Shares of NASDAQ TCBI opened at $58.68 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18. The firm’s fifty day moving average is $58.89 and its 200 day moving average is $59.00. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.98 and a beta of 1.19.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The company had revenue of $245.85 million during the quarter, compared to the consensus estimate of $251.96 million. During the same quarter last year, the company posted $0.87 earnings per share. On average, equities research analysts expect that Texas Capital Bancshares will post 3.54 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other news, Director Thomas E. Long acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought 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 approximately $443,318.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $18.64 per share, with a total value of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares in the company, valued at approximately $2,734,599.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas E. Long purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the acquisition, the director now owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 28,000 shares of company stock valued at $612,850. 0.99% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth approximately $32,000. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 426.6% in the first 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. US Bancorp DE boosted its holdings in shares of Texas Capital Bancshares by 165.7% in the fourth quarter. US Bancorp DE now owns 667 shares of the bank’s stock worth $43,000 after buying an additional 416 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Texas Capital Bancshares in the third quarter worth approximately $47,000. Finally, Mather Group LLC. purchased a new position in shares of Texas Capital Bancshares in the first quarter worth approximately $50,000. Hedge funds and other 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.