Stephens Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $97.00

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) had its target price cut by research analysts at Stephens from $102.00 to $97.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. Stephens' price objective indicates a potential upside of 22.83% from the stock's current price.

Other analysts also recently issued research reports about the company. Truist Financial raised their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an "underweight" rating on the stock in a research report on Friday, January 24th. Barclays lifted their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an "underweight" rating in a research note on Thursday, December 5th. Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Finally, StockNews.com downgraded Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $79.13.

Texas Capital Bancshares Trading Down 0.4 %

Shares of NASDAQ:TCBI traded down $0.33 during midday trading on Tuesday, hitting $78.97. The company had a trading volume of 250,533 shares, compared to its average volume of 484,471. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 61.70, a PEG ratio of 0.69 and a beta of 1.17. Texas Capital Bancshares has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $81.22 and a 200 day simple moving average of $74.79.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, analysts predict that Texas Capital Bancshares will post 5.82 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 5,670 shares of the stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $27.60 per share, with a total value of $156,492.00. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 8,402 shares of company stock worth $213,837. Corporate insiders own 0.99% of the company's stock.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $207,000. Millennium Management LLC increased its position in shares of Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $292,000. Point72 Asset Management L.P. purchased a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $2,704,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Texas Capital Bancshares by 9.5% during the second 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 acquiring an additional 4,124 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other 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.