Texas Capital Bancshares, Inc. (TCBI) Given Average Recommendation of “Hold” by Analysts
Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have received an average recommendation of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $85.00.
TCBI has been the topic of a number of recent research reports. ValuEngine upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Stephens reaffirmed a “hold” rating and set a $84.00 price objective on shares of Texas Capital Bancshares in a research note on Thursday, July 20th. Zacks Investment Research downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Hovde Group increased their target price on Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st.
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Texas Capital Bancshares (NASDAQ:TCBI) traded up 1.45% on Tuesday, reaching $73.50. The company had a trading volume of 300,015 shares. Texas Capital Bancshares has a one year low of $48.01 and a one year high of $93.35. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 20.40 and a beta of 1.67. The company has a 50-day moving average of $77.92 and a 200 day moving average of $79.84.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $201.73 million for the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same period in the prior year, the company earned $0.78 EPS. On average, equities research analysts predict that Texas Capital Bancshares will post $4.01 EPS for the current year.
In other Texas Capital Bancshares news, CFO Peter B. Bartholow sold 4,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $74.52, for a total value of $298,080.00. Following the completion of the sale, the chief financial officer now directly owns 37,671 shares of the company’s stock, valued at approximately $2,807,242.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider C Keith Cargill acquired 3,000 shares of Texas Capital Bancshares stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the completion of the transaction, the insider now directly owns 80,286 shares in the company, valued at approximately $5,953,206.90. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exane Derivatives bought a new position in Texas Capital Bancshares during the second quarter worth $125,000. Canada Pension Plan Investment Board increased its position 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 period. Hilton Capital Management LLC acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $201,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $201,000.
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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