Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $61.00 at Truist Financial

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its price objective trimmed by Truist Financial from $66.00 to $61.00 in a report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank's stock.

TCBI has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research report on Thursday, April 4th. Hovde Group decreased their target price on Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating for the company in a research report on Friday. Mizuho reissued a hold rating and issued a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Raymond James lowered Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research report on Thursday, April 4th. Finally, Citigroup decreased their target price on Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Texas Capital Bancshares has a consensus rating of Hold and a consensus target price of $63.58.

Texas Capital Bancshares Trading Up 0.9 %

TCBI traded up $0.52 during midday trading on Monday, reaching $59.20. 510,766 shares of the company's stock traded hands, compared to its average volume of 470,649. The firm has a fifty day moving average of $58.88 and a two-hundred day moving average of $59.03. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.24). The business had revenue of $245.85 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.87 EPS. On average, equities analysts anticipate that Texas Capital Bancshares will post 3.53 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Thomas E. Long purchased 2,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Thomas E. Long purchased 2,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $58.78 per share, for a total transaction of $117,560.00. Following the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the company's stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the completion of the purchase, the director now owns 131,706 shares in the company, valued at $2,624,900.58. The disclosure for this purchase can be found here. Insiders have bought a total of 23,000 shares of company stock worth $518,100 in the last ninety days. Insiders own 0.99% of the company's stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of TCBI. SG Americas Securities LLC lifted its position in Texas Capital Bancshares by 17.5% during the third quarter. SG Americas Securities LLC now owns 46,204 shares of the bank's stock valued at $2,721,000 after purchasing an additional 6,879 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Texas Capital Bancshares during the third quarter valued at $47,000. Raymond James & Associates purchased a new position in Texas Capital Bancshares during the third quarter valued at $1,138,000. Raymond James Financial Services Advisors Inc. purchased a new position in Texas Capital Bancshares during the third quarter valued at $572,000. Finally, Bank of New York Mellon Corp lifted its position in Texas Capital Bancshares by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank's stock valued at $76,045,000 after purchasing an additional 4,210 shares in the last quarter. 96.88% of the stock is currently 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.