Zacks Reiterates “Neutral” Rating for Texas Capital Bancshares (TCBI)
Texas Capital Bancshares (NASDAQ:TCBI)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $48.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 5.66% from the stock’s previous close.
Zacks‘ analyst wrote, “Texas Capital’s second-quarter 2013 operating earnings substantially lagged the Zacks Consensus Estimate. Quarterly results were adversely affected by higher expenses and increased provision for credit losses. However, top-line growth was recorded in the quarter. We believe that the company is poised to gain from its increase in market share. Moreover, the company’s organic growth is impressive. Texas Capital’s efforts to hire experienced bankers and expand its presence are encouraging. Though the resultant expenses that continue to mount is a concern, we believe that with an eventual improvement in the Texan economy, the company will experience growth in earnings.”
A number of other analysts have also recently weighed in on TCBI. Analysts at Sandler O’Neill cut their price target on shares of Texas Capital Bancshares (NASDAQ:TCBI) from $3.25 to $2.85 in a research note to investors on Friday, July 26th. Separately, analysts at FBR Capital Markets raised their price target on shares of Texas Capital Bancshares (NASDAQ:TCBI) from $46.00 to $50.00 in a research note to investors on Thursday, July 25th. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Texas Capital Bancshares (NASDAQ:TCBI) in a research note to investors on Thursday, July 25th. They now have a $45.00 price target on the stock, down previously from $49.00. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Texas Capital Bancshares currently has an average rating of “Buy” and a consensus price target of $43.49.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded up 0.09% on Thursday, hitting $45.47. The stock had a trading volume of 178,445 shares. Texas Capital Bancshares has a 52 week low of $36.75 and a 52 week high of $52.17. The stock’s 50-day moving average is $45.29 and its 200-day moving average is $44.14. The company has a market cap of $1.858 billion and a P/E ratio of 15.86.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.80 by $0.28. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, analysts predict that Texas Capital Bancshares will post $2.89 earnings per share for the current fiscal year.
Texas Capital Bancshares, Inc, is a financial holding company. The Company is the parent of Texas Capital Bank, National Association (NASDAQ:TCBI).
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