Wedbush Cuts Texas Capital Bancshares (NASDAQ:TCBI) Price Target to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective trimmed by Wedbush from $64.00 to $61.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.22 EPS.

Other research analysts have also issued reports about the company. Stephens upped their price target on Texas Capital Bancshares from $78.00 to $79.00 and gave the company an overweight rating in a research report on Monday, January 22nd. Royal Bank of Canada decreased their price target on Texas Capital Bancshares from $68.00 to $66.00 and set a sector perform rating for the company in a research note on Tuesday, April 9th. Raymond James downgraded Texas Capital Bancshares from a strong-buy rating to a market perform rating in a research note on Thursday, April 4th. Barclays assumed coverage on Texas Capital Bancshares in a research note on Friday, March 8th. They set an underweight rating and a $47.00 target price for the company. Finally, Mizuho reiterated a hold rating and issued a $66.00 price objective (down previously from $72.00) on shares of Texas Capital Bancshares in a research report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $63.58.

Texas Capital Bancshares Trading Up 0.9 %

Shares of NASDAQ TCBI opened at $59.20 on Friday. Texas Capital Bancshares has a 12 month low of $42.79 and a 12 month high of $66.18. 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. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $58.88 and a 200-day simple moving average of $59.03.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $18.64 per share, with a total value of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $18.64 per share, with a total value of $111,840.00. Following the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas E. Long bought 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 23,000 shares of company stock valued at $518,100. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after purchasing an additional 68,211 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Texas Capital Bancshares by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after acquiring an additional 80,311 shares in the last quarter. North Reef Capital Management LP raised its stake in shares of Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after purchasing an additional 722,250 shares during the period. Bank of New York Mellon Corp raised 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 valued at $76,045,000 after purchasing an additional 4,210 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after purchasing an additional 547,336 shares during the period. 96.88% of the stock is currently owned by 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.