Wedbush Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective lowered by Wedbush from $64.00 to $61.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm 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.

Several other analysts have also recently weighed in on TCBI. Barclays initiated coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They set an underweight rating and a $47.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating on the stock in a research report on Monday, April 8th. Truist Financial cut shares of Texas Capital Bancshares from a buy rating to a hold rating and lowered their price objective for the company from $72.00 to $66.00 in a research report on Monday, April 1st. Hovde Group reduced their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating on the stock in a report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of Hold and a consensus target price of $63.13.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $58.68 on Friday. The company’s 50 day simple moving average is $58.89 and its two-hundred day simple moving average is $59.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market capitalization of $2.78 billion, a PE ratio of 17.78, a P/E/G 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 posted its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.24). The company had revenue of $245.85 million for 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 last year, the business posted $0.87 EPS. Analysts predict that Texas Capital Bancshares will post 3.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $19.09 per share, with a total value of $95,450.00. Following the acquisition, the director now directly owns 117,706 shares in the company, valued at $2,247,007.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $19.09 per share, with a total value of $95,450.00. Following the acquisition, the director now directly owns 117,706 shares in the company, valued at $2,247,007.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas E. Long purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased 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. Insiders have bought a total of 28,000 shares of company stock valued at $612,850 in the last quarter. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of TCBI. Price T Rowe Associates Inc. MD increased its position in shares of Texas Capital Bancshares by 68.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank’s stock valued at $119,964,000 after buying an additional 927,419 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 26.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock valued at $219,159,000 after buying an additional 762,038 shares during the period. North Reef Capital Management LP increased its position in shares of Texas Capital Bancshares by 99.2% during 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 buying an additional 722,250 shares during the period. Wellington Management Group LLP increased its position in shares of Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the period. Finally, Norges Bank purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $35,120,000. 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.