Texas Capital Bancshares, Inc. (TCBI) Rating Reiterated by SunTrust Banks, Inc.
Texas Capital Bancshares, Inc. (NASDAQ:TCBI)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a report issued on Wednesday. They presently have a $90.00 price objective on the bank’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 6.38% from the company’s current price.
Several other analysts have also recently commented on TCBI. BidaskClub cut shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Wedbush cut shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $88.00 to $87.00 in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Hovde Group raised their target price on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.33.
Texas Capital Bancshares (TCBI) traded down 2.37% during trading on Wednesday, reaching $84.60. 527,942 shares of the company’s stock traded hands. Texas Capital Bancshares has a 12-month low of $53.21 and a 12-month high of $93.35. The company has a market cap of $4.20 billion, a PE ratio of 23.48 and a beta of 1.68. The company has a 50 day moving average price of $77.31 and a 200-day moving average price of $77.75.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter last year, the business earned $0.78 EPS. On average, equities research analysts forecast 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 bought 3,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, for a total transaction of $222,450.00. Following the acquisition, the insider now owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its holdings in Texas Capital Bancshares by 79.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,083 shares of the bank’s stock valued at $2,483,000 after acquiring an additional 14,241 shares in the last quarter. Sapience Investments LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at about $8,909,000. US Bancorp DE increased its holdings in Texas Capital Bancshares by 5.5% during the 2nd quarter. US Bancorp DE now owns 4,032 shares of the bank’s stock valued at $312,000 after acquiring an additional 211 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Texas Capital Bancshares by 14.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 240,371 shares of the bank’s stock valued at $20,059,000 after acquiring an additional 30,906 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in Texas Capital Bancshares by 378.7% during the 2nd quarter. Kennedy Capital Management Inc. now owns 145,888 shares of the bank’s stock valued at $11,292,000 after acquiring an additional 115,409 shares in the last quarter.
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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