Texas Capital Bancshares, Inc. (TCBI) Cut to Hold at Zacks Investment Research
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Shares of Texas Capital have outperformed the industry so far this year. This price performance is backed by the company’s decent earnings surprise history. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company’s diversified fee income sources should continue driving its top-line growth. Moreover, Texas Capital’s strong capital position keep it well poised for opportunistic expansions. Though, lack of geographical diversification and significantly mounting expenses keep us apprehensive, Texas Capital’s margins have relaxed to some extent, following the three rate hikes since December 2016.”
A number of other research analysts also recently issued reports on TCBI. BidaskClub downgraded shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Hovde Group increased their price target on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Stephens reiterated a “hold” rating and issued a $84.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. Finally, Royal Bank Of Canada initiated coverage on shares of Texas Capital Bancshares in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $87.07.
Texas Capital Bancshares (NASDAQ:TCBI) remained flat at $80.40 on Wednesday. The company had a trading volume of 137,639 shares. The company has a 50-day moving average price of $75.53 and a 200 day moving average price of $77.98. The firm has a market cap of $3.99 billion, a PE ratio of 22.31 and a beta of 1.67. Texas Capital Bancshares has a 12 month low of $51.95 and a 12 month high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The company had revenue of $201.73 million for the quarter, compared to the consensus estimate of $197.10 million. During the same period in the prior year, the company posted $0.78 EPS. Equities analysts expect that Texas Capital Bancshares will post $4.01 EPS for the current fiscal year.
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In other Texas Capital Bancshares news, insider C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.47% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. grew its stake in shares of Texas Capital Bancshares by 3.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,438,060 shares of the bank’s stock worth $111,306,000 after acquiring an additional 50,474 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Texas Capital Bancshares by 3.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,759 shares of the bank’s stock worth $5,632,000 after acquiring an additional 2,595 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $661,000. 1st Global Advisors Inc. grew its stake in shares of Texas Capital Bancshares by 1.1% during the 2nd quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock worth $540,000 after acquiring an additional 77 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Texas Capital Bancshares by 2.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,207 shares of the bank’s stock worth $1,487,000 after acquiring an additional 518 shares in 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 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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