Texas Capital Bancshares, Inc. (NASDAQ:TCBI)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research note issued to investors on Friday, July 14th. They presently have a $104.00 price target on the bank’s stock. Jefferies Group LLC’s price objective points to a potential upside of 32.32% from the company’s current price.
Other equities research analysts have also issued reports about the company. UBS AG upgraded Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating in a report on Thursday, April 6th. Zacks Investment Research lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wedbush upgraded Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $79.00 to $86.00 in a report on Monday, May 15th. Barclays PLC reiterated an “equal weight” rating and set a $80.00 price target (up from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. Finally, BidaskClub lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $86.17.
Shares of Texas Capital Bancshares (TCBI) traded down 0.51% during trading on Friday, reaching $78.60. 468,274 shares of the company’s stock were exchanged. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 21.82 and a beta of 1.67. The stock has a 50 day moving average price of $77.87 and a 200-day moving average price of $80.28. Texas Capital Bancshares has a 52 week low of $45.90 and a 52 week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The firm had revenue of $201.73 million during the quarter, compared to analyst estimates of $197.10 million. During the same period in the previous year, the company earned $0.78 EPS. Analysts predict that Texas Capital Bancshares will post $4.00 earnings per share for the current year.
In other news, CFO Peter B. Bartholow sold 4,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $74.52, for a total transaction of $298,080.00. Following the transaction, the chief financial officer now owns 37,671 shares of the company’s stock, valued at $2,807,242.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TCBI. Everence Capital Management Inc. bought a new position in Texas Capital Bancshares during the first quarter valued at $287,000. Teachers Advisors LLC raised its position in Texas Capital Bancshares by 16.1% in the fourth quarter. Teachers Advisors LLC now owns 96,279 shares of the bank’s stock valued at $7,548,000 after buying an additional 13,326 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Texas Capital Bancshares by 14.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 240,371 shares of the bank’s stock worth $20,059,000 after buying an additional 30,906 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Texas Capital Bancshares by 6.9% in the first quarter. Eagle Asset Management Inc. now owns 60,623 shares of the bank’s stock worth $5,058,000 after buying an additional 3,927 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Texas Capital Bancshares by 1.2% in the first quarter. California Public Employees Retirement System now owns 86,100 shares of the bank’s stock worth $7,185,000 after buying an additional 1,000 shares in the last quarter.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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