JPMorgan Chase & Co. Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $70.00

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $78.00 to $70.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 3.11% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Hovde Group dropped their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Barclays dropped their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Raymond James dropped their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, DA Davidson reduced their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Three 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $76.64.

Texas Capital Bancshares Stock Down 0.5 %

TCBI traded down $0.32 on Monday, reaching $67.89. The company's stock had a trading volume of 447,388 shares, compared to its average volume of 446,740. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 53.04, a P/E/G ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $71.75 and a two-hundred day moving average of $77.86.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The firm had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. As a group, analysts forecast that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings purchased 500 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average cost of $68.20 per share, with a total value of $34,100.00. Following the transaction, the director now owns 289,961 shares in the company, valued at approximately $19,775,340.20. The trade was a 0.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders acquired 28,732 shares of company stock worth $820,610. 1.72% of the stock is currently owned by insiders.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently made changes to their positions in TCBI. Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter worth about $30,000. Assetmark Inc. bought a new position in Texas Capital Bancshares in the 4th quarter worth about $32,000. Venturi Wealth Management LLC acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $41,000. Finally, UMB Bank n.a. boosted its position in shares of Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after buying an additional 534 shares during the period. 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.