Texas Capital Bancshares Inc. (NASDAQ:TCBI) Receives Average Recommendation of “Hold” from Analysts
Texas Capital Bancshares Inc. (NASDAQ:TCBI) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the stock. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $51.60.
TCBI has been the topic of several research reports. Wedbush initiated coverage on shares of Texas Capital Bancshares in a report on Thursday. They set a “neutral” rating and a $54.00 price objective on the stock. Raymond James Financial Inc. restated an “outperform” rating and set a $54.00 price objective (up previously from $52.00) on shares of Texas Capital Bancshares in a report on Thursday, July 21st. Citigroup Inc. downgraded shares of Texas Capital Bancshares to an “outperform” rating and upped their price objective for the stock from $52.00 to $54.00 in a report on Thursday, July 21st. TheStreet downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Compass Point initiated coverage on shares of Texas Capital Bancshares in a report on Friday, July 1st. They set a “buy” rating and a $54.00 price objective on the stock.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $52.55, for a total transaction of $131,375.00. Following the completion of the transaction, the director now owns 8,314 shares in the company, valued at $436,900.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.
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A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock worth $118,000 after buying an additional 1,527 shares in the last quarter. Quantbot Technologies LP purchased a new position in Texas Capital Bancshares during the second quarter worth approximately $149,000. Strs Ohio raised its position in Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock worth $187,000 after buying an additional 3,200 shares during the period. GSA Capital Partners LLP purchased a new position in Texas Capital Bancshares during the second quarter worth approximately $205,000. Finally, Suntrust Banks Inc. purchased a new position in Texas Capital Bancshares during the second quarter worth approximately $230,000.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded up 0.98% during mid-day trading on Monday, hitting $57.60. 66,479 shares of the company traded hands. Texas Capital Bancshares has a one year low of $29.78 and a one year high of $61.83. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 21.25 and a beta of 1.47. The firm has a 50-day moving average of $53.01 and a 200-day moving average of $47.47.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a net margin of 19.73% and a return on equity of 9.14%. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities analysts predict that Texas Capital Bancshares will post $2.99 earnings per share for the current year.
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 loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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