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

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its price target cut by stock analysts at Raymond James from $87.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Raymond James' target price would suggest a potential upside of 24.20% from the company's previous close.

A number of other research firms have also recently commented on TCBI. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Barclays decreased their price target on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Hovde Group reduced their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating on the stock in a research note on Friday, January 24th. Finally, DA Davidson dropped their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $79.29.

Texas Capital Bancshares Stock Down 2.5 %

Shares of NASDAQ:TCBI traded down $1.62 during midday trading on Monday, hitting $64.41. The stock had a trading volume of 106,963 shares, compared to its average volume of 441,532. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The business's 50-day simple moving average is $73.26 and its 200-day simple moving average is $78.12. Texas Capital Bancshares has a 12 month low of $56.24 and a 12 month high of $91.80. The company has a market cap of $2.97 billion, a P/E ratio of 50.42, a PEG ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued 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%. On average, sell-side analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 2,006 shares of the company's stock in a transaction dated Monday, January 27th. The stock was bought at an average cost of $20.99 per share, for a total transaction of $42,105.94. Following the purchase, the director now owns 182,899 shares of the company's stock, valued at approximately $3,839,050.01. The trade was a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 29,402 shares of company stock worth $653,787 in the last three months. 1.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $42,050,000. Azora Capital LP acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at $25,232,000. SG Americas Securities LLC bought a new position in Texas Capital Bancshares during the 1st quarter worth $16,938,000. Millennium Management LLC lifted its holdings in Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after buying an additional 145,393 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Texas Capital Bancshares by 22.9% in the 4th 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 last quarter. 96.88% of the stock is currently 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.

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