Texas Capital Bancshares, Inc. (TCBI) Rating Lowered to Sell at BidaskClub
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.
Several other research analysts also recently commented on the stock. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $79.00 to $86.00 in a report on Monday, May 15th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $80.00 target price (down previously from $85.00) on shares of Texas Capital Bancshares in a report on Saturday, April 22nd. Barclays PLC reiterated a “hold” rating and issued a $75.00 target price (down previously from $78.00) on shares of Texas Capital Bancshares in a report on Friday, April 21st. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Texas Capital Bancshares in a report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.00.
Shares of Texas Capital Bancshares (NASDAQ TCBI) traded down 1.15% during mid-day trading on Friday, hitting $73.05. The stock had a trading volume of 202,127 shares. The stock has a market cap of $3.62 billion, a P/E ratio of 21.40 and a beta of 1.66. The stock has a 50-day moving average price of $76.27 and a 200 day moving average price of $80.37. Texas Capital Bancshares has a 52 week low of $41.47 and a 52 week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.08. The business had revenue of $180.47 million during the quarter, compared to analyst estimates of $192.60 million. Texas Capital Bancshares had a net margin of 21.42% and a return on equity of 9.90%. During the same period in the previous year, the firm posted $0.49 EPS. On average, equities analysts forecast that Texas Capital Bancshares will post $3.86 EPS for the current fiscal year.
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In other news, Director Ian J. Turpin sold 2,507 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $73.59, for a total transaction of $184,490.13. Following the transaction, the director now owns 9,991 shares in the company, valued at approximately $735,237.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider C Keith Cargill acquired 5,000 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were bought at an average price of $73.57 per share, for a total transaction of $367,850.00. Following the acquisition, the insider now owns 77,286 shares in the company, valued at approximately $5,685,931.02. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TCBI. Metropolitan Life Insurance Co. NY increased its position in Texas Capital Bancshares by 4.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,131 shares of the bank’s stock valued at $2,676,000 after buying an additional 1,529 shares during the last quarter. Ellington Management Group LLC bought a new position in Texas Capital Bancshares during the fourth quarter valued at about $227,000. Public Sector Pension Investment Board increased its position in Texas Capital Bancshares by 7.7% in the fourth quarter. Public Sector Pension Investment Board now owns 34,822 shares of the bank’s stock valued at $2,730,000 after buying an additional 2,500 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Texas Capital Bancshares by 6.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,780 shares of the bank’s stock valued at $999,000 after buying an additional 803 shares during the last quarter. Finally, Tyers Asset Management LLC bought a new position in Texas Capital Bancshares during the fourth quarter valued at about $180,000.
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 loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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