Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lowered by Wedbush from $64.00 to $61.00 in a research report report published on Friday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.22 EPS.

TCBI has been the subject of several other reports. Stephens increased their price objective on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the company an overweight rating in a research report on Monday, January 22nd. Jefferies Financial Group dropped their price target on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating on the stock in a research note on Monday, April 8th. Barclays started coverage on Texas Capital Bancshares in a report on Friday, March 8th. They issued an underweight rating and a $47.00 price objective on the stock. Hovde Group decreased their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a market perform rating on the stock in a report on Friday. Finally, Mizuho reiterated a hold rating and set a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $59.20 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.08 and a beta of 1.19. The firm has a 50-day simple moving average of $58.88 and a two-hundred day simple moving average of $59.03. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 4,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $19.93 per share, with a total value of $79,720.00. Following the completion of the transaction, the director now owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average cost of $18.81 per share, for a total transaction of $94,050.00. Following the completion of the purchase, the director now owns 140,706 shares of the company’s stock, valued at $2,646,679.86. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings purchased 4,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was bought 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 directly owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 23,000 shares of company stock valued at $518,100. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBI. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after acquiring an additional 68,211 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Texas Capital Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after purchasing an additional 80,311 shares during the period. North Reef Capital Management LP lifted its holdings in shares of Texas Capital Bancshares by 99.2% during the third quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock worth $85,405,000 after purchasing an additional 722,250 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $76,045,000 after purchasing an additional 4,210 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Texas Capital Bancshares by 97.9% in the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after acquiring an additional 547,336 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

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.