Texas Capital Bancshares Now Covered by Bank of America Corp. (TCBI)
Investment analysts at Bank of America Corp. began coverage on shares of Texas Capital Bancshares (NASDAQ:TCBI) in a note issued to investors on Wednesday, AnalystRatings.NET reports. The firm set a “buy” rating and a $55.00 price target on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 22.91% from the stock’s previous close.
The analysts wrote, “We are initiating coverage on Dallas, Texas based Texas Capital (TCBI) with a Buy rating and $55 price objective. We view TCBI as a best-in-class TX focused commercial lender that has delivered above average returns to shareholders since its 2003 IPO with shares up 318% since vs a 1% decline for the KBW Regional Bank Index and a 131% gain for the Russell 2000. Over the last few years management has capitalized on the market share opportunities in the mortgage businesses and expanded its nationally focused mortgage warehouse lending operations which account for 20-25% of TCBI’s EPS. Our ’14/’15 EPS estimates imply 15% in average EPS growth vs 9% median for high-growth peers.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Texas Capital Bancshares in a research note to investors on Thursday, October 3rd. They now have a $48.00 price target on the stock. Separately, analysts at Sandler O’Neill cut their price target on shares of Texas Capital Bancshares from $3.25 to $2.85 in a research note to investors on Friday, July 26th. Finally, analysts at FBR Capital Markets raised their price target on shares of Texas Capital Bancshares 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Texas Capital Bancshares has an average rating of “Buy” and a consensus price target of $44.45.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded up 1.99% on Wednesday, hitting $45.64. 159,168 shares of the company’s stock traded hands. Texas Capital Bancshares has a 52-week low of $36.75 and a 52-week high of $51.22. The stock’s 50-day moving average is $45. and its 200-day moving average is $44.29. The company has a market cap of $1.865 billion and a price-to-earnings ratio of 15.62.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.80 by $0.28. During the same quarter last year, the company posted $0.76 earnings per share. Analysts expect that Texas Capital Bancshares will post $2.89 EPS 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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