JPMorgan Chase & Co. Lowers Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $70.00

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $78.00 to $70.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the bank's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 9.31% from the company's previous close.

Several other analysts also recently issued reports on the company. DA Davidson dropped their price target on 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 dropped their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Hovde Group reduced their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday. Raymond James decreased their price target on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday. Finally, StockNews.com raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $77.43.

Texas Capital Bancshares Trading Down 3.0 %

Shares of NASDAQ TCBI traded down $1.99 during midday trading on Monday, hitting $64.04. The stock had a trading volume of 310,706 shares, compared to its average volume of 442,326. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The firm has a market cap of $2.95 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. The company's 50-day simple moving average is $73.26 and its 200 day simple moving average is $78.12.

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

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 5,670 shares of Texas Capital Bancshares stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the acquisition, the director now directly owns 180,893 shares in the company, valued at approximately $4,992,646.80. The trade was a 3.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 29,402 shares of company stock valued at $653,787. 1.72% of the stock is owned by insiders.

Institutional Trading of Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Texas Capital Bancshares during the fourth quarter worth about $42,050,000. Azora Capital LP acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $25,232,000. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares during the first quarter worth approximately $16,938,000. Millennium Management LLC raised its position in shares of Texas Capital Bancshares by 60.6% in the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock valued at $30,144,000 after buying an additional 145,393 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Texas Capital Bancshares by 22.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after buying an additional 138,734 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

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.

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