Texas Capital Bancshares Inc. (TCBI) Price Target Raised to $58.00 at Barclays PLC
Texas Capital Bancshares Inc. (NASDAQ:TCBI) had its price objective increased by investment analysts at Barclays PLC from $52.00 to $58.00 in a report issued on Tuesday. The firm presently has an “equal weight” rating on the stock. Barclays PLC’s price target points to a potential upside of 1.31% from the company’s previous close.
Other analysts have also recently issued research reports about the company. Deutsche Bank AG upped their price objective on Texas Capital Bancshares from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup Inc. cut Texas Capital Bancshares to an “outperform” rating and upped their price objective for the company from $52.00 to $54.00 in a research note on Thursday, July 21st. Compass Point assumed coverage on Texas Capital Bancshares in a research note on Friday, July 1st. They set a “buy” rating and a $54.00 price objective on the stock. Bank of America Corp. cut Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, TheStreet cut Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.50.
Texas Capital Bancshares (NASDAQ:TCBI) traded down 1.22% during mid-day trading on Tuesday, hitting $56.55. The stock had a trading volume of 349,017 shares. Texas Capital Bancshares has a 12-month low of $29.78 and a 12-month high of $61.83. The company has a 50-day moving average of $53.20 and a 200-day moving average of $47.72. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 20.87 and a beta of 1.47.
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Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 19.73%. During the same period in the previous year, the business earned $0.76 EPS. On average, analysts anticipate that Texas Capital Bancshares will post $2.99 earnings per share for the current fiscal year.
In other news, Director James H. Browning sold 2,500 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $52.55, for a total transaction of $131,375.00. Following the completion of the sale, the director now owns 8,314 shares in the company, valued at approximately $436,900.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its stake in Texas Capital Bancshares by 2.0% in the third quarter. Fisher Asset Management LLC now owns 724,241 shares of the company’s stock worth $39,775,000 after buying an additional 14,029 shares during the last quarter. First Mercantile Trust Co. raised its stake in Texas Capital Bancshares by 20.1% in the third quarter. First Mercantile Trust Co. now owns 16,031 shares of the company’s stock worth $881,000 after buying an additional 2,678 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Texas Capital Bancshares during the second quarter worth about $420,000. Aristotle Capital Boston LLC raised its stake in Texas Capital Bancshares by 5.2% in the second quarter. Aristotle Capital Boston LLC now owns 28,442 shares of the company’s stock worth $1,330,000 after buying an additional 1,407 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Texas Capital Bancshares by 43.4% in the second quarter. Public Employees Retirement System of Ohio now owns 61,953 shares of the company’s stock worth $2,897,000 after buying an additional 18,759 shares during 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 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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