Raymond James Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $80.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target reduced by research analysts at Raymond James from $87.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Raymond James’ price target would indicate a potential upside of 24.20% from the company’s current price.

Several other brokerages have also issued reports on TCBI. JPMorgan Chase & Co. decreased their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Stephens cut their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Hovde Group dropped their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Piper Sandler reduced their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.29.

Texas Capital Bancshares Stock Performance

Shares of Texas Capital Bancshares stock traded down $1.62 during mid-day trading on Monday, hitting $64.41. 106,963 shares of the stock were exchanged, compared to its average volume of 441,532. The company has a market capitalization of $2.97 billion, a P/E ratio of 50.42, a P/E/G ratio of 0.75 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $73.26 and a 200 day simple moving average of $78.12. Texas Capital Bancshares has a 12 month low of $56.24 and a 12 month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The business had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Sell-side analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,670 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the acquisition, the director now directly owns 180,893 shares in the company, valued at approximately $4,992,646.80. This trade represents a 3.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 29,402 shares of company stock worth $653,787 in the last ninety days. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank increased its position in Texas Capital Bancshares by 0.8% during the 4th quarter. Amalgamated Bank now owns 20,791 shares of the bank’s stock valued at $1,626,000 after purchasing an additional 166 shares during the period. Moody National Bank Trust Division lifted its holdings in Texas Capital Bancshares by 1.5% in the first quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank’s stock worth $1,317,000 after buying an additional 255 shares during the period. Xponance Inc. grew its holdings in shares of Texas Capital Bancshares by 4.8% during the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank’s stock worth $514,000 after acquiring an additional 300 shares during the period. Savant Capital LLC raised its position in shares of Texas Capital Bancshares by 5.7% in the 4th quarter. Savant Capital LLC now owns 5,604 shares of the bank’s stock worth $438,000 after acquiring an additional 303 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in shares of Texas Capital Bancshares by 1.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank’s stock valued at $1,472,000 after purchasing an additional 350 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.