Hovde Group Issues Pessimistic Forecast for Texas Capital Bancshares (NASDAQ:TCBI) Stock Price

Texas Capital Bancshares (NASDAQ:TCBI) had its target price reduced by analysts at Hovde Group from $90.00 to $84.00 in a research note issued on Friday, Marketbeat Ratings reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 13.50% from the company’s current price.

A number of other analysts also recently weighed in on TCBI. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of 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. DA Davidson lowered their price target on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Finally, Barclays lifted their price objective on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.47.

Texas Capital Bancshares Trading Up 0.4 %

Shares of TCBI stock opened at $74.01 on Friday. Texas Capital Bancshares has a 1 year low of $54.68 and a 1 year high of $91.80. The firm has a fifty day moving average price of $78.84 and a 200-day moving average price of $77.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 57.82, a PEG ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 2,006 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was acquired at an average price of $20.99 per share, with a total value of $42,105.94. Following the completion of the purchase, the director now directly owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders bought 29,402 shares of company stock valued at $653,787. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in Texas Capital Bancshares by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 5,366 shares of the bank’s stock worth $383,000 after acquiring an additional 180 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Texas Capital Bancshares during the 3rd quarter worth approximately $201,000. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $214,000. Wolverine Asset Management LLC increased its position in shares of Texas Capital Bancshares by 23.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,038 shares of the bank’s stock valued at $2,933,000 after purchasing an additional 7,849 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Texas Capital Bancshares by 326.6% in the 3rd quarter. Victory Capital Management Inc. now owns 70,103 shares of the bank’s stock valued at $5,010,000 after buying an additional 53,669 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.