Keefe, Bruyette & Woods Trims Texas Capital Bancshares (NASDAQ:TCBI) Target Price to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by Keefe, Bruyette & Woods from $76.00 to $74.00 in a research note issued to investors on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

TCBI has been the subject of several other research reports. JPMorgan Chase & Co. cut 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. Wedbush dropped their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a report on Friday, April 19th. Raymond James cut Texas Capital Bancshares from a strong-buy rating to a market perform rating in a report on Thursday, April 4th. Jefferies Financial Group dropped their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating for the company in a report on Monday, April 8th. Finally, Mizuho reaffirmed a hold rating and set a $66.00 price target (down from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $63.58.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $58.61 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $2.73 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The business has a 50 day simple moving average of $58.97 and a 200 day simple moving average of $59.05.

Insider Activity

In other news, Director Thomas E. Long bought 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $58.78 per share, with a total value of $117,560.00. Following the purchase, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 cost of $19.93 per share, for a total transaction of $79,720.00. Following the transaction, the director now directly owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Long purchased 2,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the transaction, the director now directly owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 18,000 shares of company stock valued at $422,650. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after purchasing an additional 175 shares during the last quarter. Retirement Systems of Alabama grew its stake in Texas Capital Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock valued at $3,887,000 after acquiring an additional 208 shares during the period. Headlands Technologies LLC grew its stake in Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after acquiring an additional 476 shares during the period. Advisor Partners II LLC grew its stake in Texas Capital Bancshares by 11.3% in the third quarter. Advisor Partners II LLC now owns 4,924 shares of the bank’s stock valued at $290,000 after acquiring an additional 501 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Texas Capital Bancshares by 22.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,922 shares of the bank’s stock valued at $172,000 after acquiring an additional 535 shares during the period. 96.88% of the stock is currently owned by 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.