Texas Capital Bancshares (NASDAQ:TCBI) Given New $61.00 Price Target at Truist Financial

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

Several other equities research analysts also recently issued reports on the stock. Citigroup decreased 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 research note on Wednesday, March 13th. JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research note on Thursday, April 4th. Stephens decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a research note on Friday. Jefferies Financial Group decreased their target price on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating for the company in a research note on Monday, April 8th. Finally, UBS Group upped their target price on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a sell rating in a research note on Tuesday, January 23rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Price Performance

TCBI opened at $59.20 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Texas Capital Bancshares has a 52-week low of $42.79 and a 52-week high of $66.18. The company has a 50 day moving average of $58.88 and a two-hundred day moving average of $59.03. The company has a market cap of $2.81 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.08 and a beta of 1.19.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 4,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, January 31st. The shares were purchased at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now directly owns 131,706 shares of the company’s stock, valued at approximately $2,624,900.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 4,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $19.93 per share, with a total value of $79,720.00. Following the completion of the acquisition, the director now owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Long bought 2,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now directly owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Insiders have purchased 23,000 shares of company stock worth $518,100 in the last ninety days. 0.99% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after acquiring an additional 68,211 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Texas Capital Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after acquiring an additional 80,311 shares during the period. North Reef Capital Management LP increased its holdings in shares of Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after acquiring an additional 722,250 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Texas Capital Bancshares by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock worth $76,045,000 after acquiring an additional 4,210 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after acquiring an additional 547,336 shares during the period. Institutional investors and hedge funds 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.