Hovde Group Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $61.50

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lowered by Hovde Group from $87.50 to $61.50 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a market perform rating on the bank’s stock.

Other research analysts also recently issued research reports about the company. Citigroup decreased their price objective on Texas Capital Bancshares from $66.00 to $64.00 and set a neutral rating on the stock in a research note on Wednesday, March 13th. Truist Financial cut Texas Capital Bancshares from a buy rating to a hold rating and dropped their target price for the stock from $72.00 to $66.00 in a report on Monday, April 1st. Mizuho reiterated a hold rating and issued a $66.00 target price (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an underweight rating for the company in a report on Thursday, April 4th. Finally, Royal Bank of Canada dropped their price objective on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of Hold and a consensus price target of $63.58.

Texas Capital Bancshares Stock Up 0.9 %

TCBI stock opened at $59.20 on Friday. Texas Capital Bancshares has a fifty-two week low of $42.79 and a fifty-two week high of $66.18. The business’s 50-day moving average is $58.88 and its two-hundred day moving average is $59.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.08 and a beta of 1.19.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were acquired at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the purchase, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were acquired at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the purchase, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings bought 4,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was bought at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now directly owns 131,706 shares of the company’s stock, valued at $2,624,900.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,000 shares of company stock worth $518,100 in the last ninety days. 0.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of large investors have recently bought and sold shares of TCBI. CWM LLC raised its holdings in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Texas Capital Bancshares in the third quarter worth approximately $47,000. Mather Group LLC. purchased a new position in Texas Capital Bancshares in the first quarter worth approximately $50,000. Headlands Technologies LLC grew its position in Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after acquiring an additional 476 shares during the period. Finally, Strs Ohio grew its position in Texas Capital Bancshares by 133.3% in the third quarter. Strs Ohio now owns 2,100 shares of the bank’s stock worth $123,000 after acquiring an additional 1,200 shares during the period. 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.