Texas Capital Bancshares (NASDAQ:TCBI) Price Target Lowered to $75.00 at Hovde Group

Texas Capital Bancshares (NASDAQ:TCBI - Free Report) had its price target reduced by Hovde Group from $84.00 to $75.00 in a research report report published on Monday, Marketbeat reports. They currently have a market perform rating on the bank's stock.

A number of other brokerages also recently issued reports on TCBI. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. DA Davidson dropped their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating for the company in a report on Friday, January 24th. Stephens dropped their price objective on Texas Capital Bancshares from $102.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays reduced their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and a consensus price target of $76.64.

Texas Capital Bancshares Stock Up 1.5 %

Shares of Texas Capital Bancshares stock traded up $1.02 during trading on Monday, reaching $68.21. The company's stock had a trading volume of 464,740 shares, compared to its average volume of 446,202. The company has a 50-day simple moving average of $72.04 and a two-hundred day simple moving average of $77.88. Texas Capital Bancshares has a 1-year low of $56.24 and a 1-year high of $91.80. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 53.29, a P/E/G ratio of 0.75 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 500 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was acquired at an average cost of $68.20 per share, for a total transaction of $34,100.00. Following the completion of the transaction, the director now directly owns 289,961 shares in the company, valued at approximately $19,775,340.20. The trade was a 0.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders acquired 34,402 shares of company stock worth $977,102. 1.72% of the stock is currently owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Texas Capital Bancshares by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 247,416 shares of the bank's stock valued at $18,482,000 after acquiring an additional 9,953 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Texas Capital Bancshares during the 1st quarter worth about $528,000. SG Americas Securities LLC acquired a new position in Texas Capital Bancshares in the first quarter valued at approximately $16,938,000. GAMMA Investing LLC increased its stake in Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after purchasing an additional 465 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Texas Capital Bancshares during the first quarter worth approximately $286,000. Hedge funds and other institutional investors 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.