Stephens Has Lowered Expectations for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective decreased by Stephens from $102.00 to $97.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Stephens currently has an overweight rating on the bank’s stock.

Several other equities analysts have also commented on the company. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $77.00 to $82.00 in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. DA Davidson lowered their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Hovde Group boosted their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.13.

Texas Capital Bancshares Stock Performance

TCBI opened at $79.30 on Tuesday. 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 $3.66 billion, a PE ratio of 440.56, a PEG ratio of 0.73 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $81.22 and its 200 day moving average price is $74.79.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data 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 return on equity of 8.06% and a net margin of 1.40%. As a group, sell-side analysts expect that Texas Capital Bancshares will post 4.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings acquired 5,670 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the transaction, the director now owns 180,893 shares in the company, valued at $4,992,646.80. This trade represents a 3.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 8,402 shares of company stock worth $213,837 over the last 90 days. 0.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of TCBI. Vanguard Personalized Indexing Management LLC purchased a new stake in Texas Capital Bancshares in the 2nd quarter worth approximately $207,000. Millennium Management LLC grew its position in shares of Texas Capital Bancshares by 146.7% in the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares during the period. Algert Global LLC acquired a new position in Texas Capital Bancshares in the second quarter valued at $292,000. Point72 Asset Management L.P. purchased a new position in Texas Capital Bancshares during the second quarter worth about $2,704,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Texas Capital Bancshares by 9.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock valued at $2,897,000 after buying an additional 4,124 shares during the period. 96.88% of the stock is currently owned by hedge funds and other 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.