Texas Capital Bancshares (NASDAQ:TCBI) Given New $61.00 Price Target at Jefferies Financial Group

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective reduced by Jefferies Financial Group from $64.00 to $61.00 in a report published on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the bank’s stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating for the company in a research note on Monday, April 22nd. Citigroup dropped their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating for the company in a research note on Wednesday, March 13th. Barclays began coverage on Texas Capital Bancshares in a research note on Friday, March 8th. They set an underweight rating and a $47.00 target price on the stock. Royal Bank of Canada dropped their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating on the stock in a research report on Thursday, April 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $60.48 on Wednesday. The stock has a 50-day simple moving average of $59.48 and a two-hundred day simple moving average of $60.14. Texas Capital Bancshares has a 52-week low of $50.40 and a 52-week 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. The firm has a market capitalization of $2.82 billion, a PE ratio of 18.33, a P/E/G ratio of 1.54 and a beta of 1.15.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $256.33 million during the quarter, compared to the consensus estimate of $253.27 million. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. Analysts forecast that Texas Capital Bancshares will post 3.46 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average cost of $19.70 per share, for a total transaction of $59,100.00. Following the completion of the transaction, the director now directly owns 153,706 shares in the company, valued at approximately $3,028,008.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings bought 3,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $19.70 per share, with a total value of $59,100.00. Following the completion of the purchase, the director now owns 153,706 shares in the company, valued at approximately $3,028,008.20. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 6,000 shares of the stock in a transaction dated Monday, May 20th. The stock was purchased at an average price of $19.52 per share, with a total value of $117,120.00. Following the acquisition, the director now directly owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 15,004 shares of company stock valued at $292,878. Insiders own 1.53% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its position in shares of Texas Capital Bancshares by 13.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,207 shares of the bank’s stock worth $366,000 after purchasing an additional 757 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Texas Capital Bancshares by 31.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 38,823 shares of the bank’s stock worth $2,287,000 after acquiring an additional 9,332 shares in the last quarter. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 155.3% in the 3rd quarter. AQR Capital Management LLC now owns 297,143 shares of the bank’s stock worth $17,502,000 after acquiring an additional 180,743 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Texas Capital Bancshares during the third quarter worth approximately $323,000. Finally, Walleye Capital LLC raised its stake in shares of Texas Capital Bancshares by 63.9% during the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock valued at $10,267,000 after acquiring an additional 67,964 shares in the last quarter. 96.88% of the stock is owned by 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.