Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $84.00 by Analysts at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective dropped by equities research analysts at Hovde Group from $90.00 to $84.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s target price points to a potential upside of 13.94% from the company’s current price.

A number of other research analysts have also weighed in on TCBI. DA Davidson decreased their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Barclays lifted their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $79.47.

Texas Capital Bancshares Trading Down 2.0 %

Shares of Texas Capital Bancshares stock opened at $73.72 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $79.01 and its 200 day moving average price is $77.65. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80. The firm has a market capitalization of $3.39 billion, a PE ratio of 57.59, a P/E/G ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, sell-side analysts predict that Texas Capital Bancshares will post 5.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the purchase, the director now directly owns 49,500 shares in the company, valued at approximately $1,011,285. The trade was a 16.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 29,402 shares of company stock worth $653,787 over the last 90 days. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth $2,815,000. GTS Securities LLC acquired a new position in shares of Texas Capital Bancshares during the fourth quarter worth $327,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Texas Capital Bancshares by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,223 shares of the bank’s stock worth $6,508,000 after purchasing an additional 11,820 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Texas Capital Bancshares by 1,027.6% during the fourth quarter. Voloridge Investment Management LLC now owns 65,921 shares of the bank’s stock worth $5,155,000 after purchasing an additional 60,075 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Texas Capital Bancshares by 108.8% during the fourth quarter. Squarepoint Ops LLC now owns 101,815 shares of the bank’s stock worth $7,962,000 after purchasing an additional 53,061 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.