Taylor Capital Group Stock Rating Reaffirmed by DA Davidson (TAYC)
Taylor Capital Group (NASDAQ:TAYC)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a research report issued to clients and investors on Monday, AR Network reports. They currently have a $23.00 target price on the stock, up from their previous target price of $22.00. DA Davidson’s price objective points to a potential downside of 0.30% from the stock’s previous close.
The analysts wrote, “Taylor Capital reported 3Q13 EPS of $0.34, $0.02 cents below our estimate and $0.05 below consensus. Relative to our model, the variance was driven by lower non-interest income and higher expense that more than offset the better than expected growth in net interest income. The quarter included $2 million in one-time expense tied to corporate initiatives and the MBFI merger. TAYC had very good loan growth with period end balances advancing at a 39% annualized clip. The robust growth was driven by 11.4% q/q growth in C&I and 7.5% q/q growth in CRE. C&I loan growth was broadly distributed with growth coming from Chicago middle-market lending, asset based lending, and equipment finance. Loans held for sale decreased 28% due to the slowdown in mortgage refinance.”
Shares of Taylor Capital Group (NASDAQ:TAYC) traded down 0.39% during mid-day trading on Monday, hitting $22.9801. 21,046 shares of the company’s stock traded hands. Taylor Capital Group has a one year low of $12.97 and a one year high of $23.24. The stock has a 50-day moving average of $22.02 and a 200-day moving average of $19.03. The company has a market cap of $665.0 million and a price-to-earnings ratio of 12.75.
Taylor Capital Group (NASDAQ:TAYC) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.07. During the same quarter in the prior year, the company posted $0.49 earnings per share.
Taylor Capital Group, Inc is a bank holding company. The Company derives its revenue from its wholly owned subsidiary, Cole Taylor Bank (NASDAQ:TAYC).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.