Texas Capital Bancshares (NASDAQ:TCBI) PT Lowered to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its target price decreased by Truist Financial from $66.00 to $61.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating on the stock in a report on Tuesday, April 9th. Wedbush cut their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating on the stock in a report on Friday, April 19th. Raymond James lowered shares of Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods dropped their price objective on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating on the stock in a research note on Monday. Finally, Stephens dropped their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of Hold and an average target price of $63.58.

Texas Capital Bancshares Trading Down 2.5 %

NASDAQ TCBI opened at $58.61 on Monday. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The company’s 50 day moving average price is $58.97 and its 200 day moving average price is $59.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.15 and a beta of 1.19.

Insider Transactions at Texas Capital Bancshares

In related news, Director Thomas E. Long purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the transaction, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $18.64 per share, with a total value of $111,840.00. Following the completion of the acquisition, the director now directly owns 146,706 shares in the company, valued at approximately $2,734,599.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $58.78 per share, with a total value of $117,560.00. Following the acquisition, the director now owns 7,542 shares of the company’s stock, valued at $443,318.76. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,000 shares of company stock valued at $422,650. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC boosted its holdings in Texas Capital Bancshares by 14.2% in the first quarter. AlphaMark Advisors LLC now owns 4,711 shares of the bank’s stock worth $290,000 after purchasing an additional 587 shares during the period. Hodges Capital Management Inc. boosted its holdings in shares of Texas Capital Bancshares by 24.2% during the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after acquiring an additional 28,650 shares during the period. Mather Group LLC. acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at $50,000. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 1.4% during 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. Institutional investors and hedge funds 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.