Keefe, Bruyette & Woods Trims Texas Capital Bancshares (NASDAQ:TCBI) Target Price to $74.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price target decreased by Keefe, Bruyette & Woods from $76.00 to $74.00 in a research report released on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Several other research analysts have also issued reports on TCBI. Jefferies Financial Group lowered their target price on Texas Capital Bancshares from $70.00 to $61.00 and set a hold rating for the company in a research report on Monday, April 8th. Royal Bank of Canada lowered their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a research report on Thursday, April 4th. Wedbush lowered their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a neutral rating for the company in a research report on Friday, April 19th. Finally, Stephens lowered their price objective on Texas Capital Bancshares from $78.00 to $73.00 and set an overweight rating for the company in a research report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of Hold and an average target price of $63.58.

Texas Capital Bancshares Trading Down 2.5 %

NASDAQ TCBI opened at $58.61 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Texas Capital Bancshares has a twelve month low of $42.79 and a twelve month high of $66.18. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. The business’s fifty day moving average is $58.97 and its 200 day moving average is $59.05.

Insider Activity

In other news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now directly owns 131,706 shares in the company, valued at approximately $2,624,900.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now directly owns 131,706 shares in the company, valued at approximately $2,624,900.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were bought at an average price of $18.81 per share, with a total value of $94,050.00. Following the purchase, the director now directly owns 140,706 shares in the company, valued at approximately $2,646,679.86. The disclosure for this purchase can be found here. Insiders bought a total of 18,000 shares of company stock worth $422,650 in the last three months. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently added to or reduced their stakes in TCBI. SG Americas Securities LLC boosted its stake in Texas Capital Bancshares by 17.5% during the 3rd quarter. SG Americas Securities LLC now owns 46,204 shares of the bank’s stock valued at $2,721,000 after purchasing an additional 6,879 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $47,000. Raymond James & Associates purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $1,138,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $572,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Texas Capital Bancshares by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock worth $76,045,000 after buying an additional 4,210 shares during the last quarter. Institutional investors and hedge funds 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.