Jefferies Financial Group Trims Texas Capital Bancshares (NASDAQ:TCBI) Target Price to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target trimmed by Jefferies Financial Group from $64.00 to $61.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

A number of other research firms have also recently commented on TCBI. Mizuho reaffirmed a hold rating and issued a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Wedbush reduced their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a research note on Friday, April 19th. Stephens reduced their price objective on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a research note on Friday, April 19th. Barclays initiated coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They set an underweight rating and a $47.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an outperform rating for the company in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $63.58.

Texas Capital Bancshares Stock Down 1.9 %

Shares of TCBI opened at $59.32 on Wednesday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 52 week low of $50.40 and a 52 week high of $66.18. The stock has a fifty day moving average of $59.55 and a 200-day moving average of $60.12.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The company had revenue of $256.33 million during the quarter, compared to the consensus estimate of $253.27 million. As a group, sell-side analysts anticipate that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $19.50 per share, with a total value of $58,500.00. Following the completion of the purchase, the director now owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert W. Stallings acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the acquisition, the director now directly owns 156,706 shares of the company’s stock, valued at approximately $3,055,767. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings purchased 6,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the acquisition, the director now owns 163,706 shares in the company, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Insiders have bought 15,004 shares of company stock worth $292,878 in the last three months. Company insiders own 1.53% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several large investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC lifted its stake in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock valued at $849,000 after purchasing an additional 175 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Texas Capital Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after buying an additional 208 shares in the last quarter. ProShare Advisors LLC increased its position in Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock worth $665,000 after purchasing an additional 344 shares during the last quarter. Headlands Technologies LLC increased its position in Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after purchasing an additional 476 shares during the last quarter. Finally, CWM LLC increased its position in Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the last quarter. 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.