FY2018 EPS Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Cut by Jefferies Group
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Equities researchers at Jefferies Group reduced their FY2018 EPS estimates for Texas Capital Bancshares in a research report issued on Wednesday. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $4.50 per share for the year, down from their prior forecast of $4.55. Jefferies Group currently has a “Buy” rating and a $102.00 price target on the stock.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.08. Texas Capital Bancshares had a net margin of 21.42% and a return on equity of 9.90%. The firm had revenue of $180.47 million for the quarter, compared to the consensus estimate of $192.60 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. ILLEGAL ACTIVITY NOTICE: “FY2018 EPS Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Cut by Jefferies Group” was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/07/07/fy2018-eps-estimates-for-texas-capital-bancshares-inc-nasdaqtcbi-cut-by-jefferies-group.html.
TCBI has been the subject of several other reports. Wedbush raised shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $79.00 to $86.00 in a research note on Monday, May 8th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $98.00 price objective (up from $95.00) on shares of Texas Capital Bancshares in a research note on Thursday, March 16th. BidaskClub lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $80.00 price objective (down from $85.00) on shares of Texas Capital Bancshares in a research note on Saturday, April 22nd. Finally, Zacks Investment Research lowered shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $83.25.
Texas Capital Bancshares (NASDAQ:TCBI) traded down 0.13% during midday trading on Friday, reaching $77.90. 139,245 shares of the company were exchanged. Texas Capital Bancshares has a 52 week low of $42.36 and a 52 week high of $93.35. The company has a 50-day moving average of $75.78 and a 200 day moving average of $80.23. The firm has a market capitalization of $3.86 billion, a PE ratio of 22.82 and a beta of 1.67.
In other news, insider C Keith Cargill acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was purchased at an average cost of $73.57 per share, for a total transaction of $367,850.00. Following the completion of the acquisition, the insider now directly owns 77,286 shares of the company’s stock, valued at approximately $5,685,931.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian J. Turpin sold 2,507 shares of Texas Capital Bancshares stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $73.59, for a total value of $184,490.13. Following the completion of the sale, the director now owns 9,991 shares of the company’s stock, valued at $735,237.69. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at $128,000. Canada Pension Plan Investment Board increased its stake in Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock valued at $142,000 after buying an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock valued at $148,000 after buying an additional 563 shares during the last quarter. Parkwood LLC purchased a new stake in Texas Capital Bancshares during the first quarter valued at $211,000. Finally, Cipher Capital LP purchased a new stake in Texas Capital Bancshares during the first quarter valued at $220,000.
About Texas Capital Bancshares
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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