Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by analysts at Keefe, Bruyette & Woods from $76.00 to $74.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 23.01% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Stephens lowered 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 report on Friday, April 19th. Citigroup lowered their target price on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Royal Bank of Canada lowered 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. Raymond James downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Finally, Truist Financial downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating and lowered their target price for the stock from $72.00 to $66.00 in a report on Monday, April 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.58.

Texas Capital Bancshares Price Performance

NASDAQ TCBI opened at $60.16 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 12-month low of $42.79 and a 12-month high of $66.18. The company has a market capitalization of $2.81 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The firm’s 50 day moving average is $58.96 and its 200-day moving average is $59.04.

Insider Activity

In other news, Director Robert W. Stallings acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was acquired at an average price of $19.09 per share, with a total value of $95,450.00. Following the completion of the transaction, the director now directly owns 117,706 shares of the company’s stock, valued at approximately $2,247,007.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was acquired 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 directly 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 can be accessed through this link. Also, Director Robert W. Stallings acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average cost of $19.09 per share, with a total value of $95,450.00. Following the transaction, the director now directly owns 117,706 shares of the company’s stock, valued at $2,247,007.54. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 23,000 shares of company stock valued at $518,100. 1.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. acquired a new position in Texas Capital Bancshares during the first quarter worth about $50,000. Atwood & Palmer Inc. acquired a new position in Texas Capital Bancshares during the third quarter worth about $47,000. Headlands Technologies LLC raised its stake in Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after acquiring an additional 476 shares in the last quarter. Finally, Strs Ohio raised its stake in Texas Capital Bancshares by 133.3% during the third quarter. Strs Ohio now owns 2,100 shares of the bank’s stock worth $123,000 after acquiring an additional 1,200 shares in the last quarter. 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.