Q3 2018 Earnings Forecast for Texas Capital Bancshares, Inc. Issued By Wedbush (TCBI)
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Wedbush increased their Q3 2018 earnings per share estimates for shares of Texas Capital Bancshares in a report issued on Wednesday. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $1.39 per share for the quarter, up from their previous forecast of $1.34. Wedbush has a “Neutral” rating and a $87.00 price target on the stock.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $201.73 million during the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. During the same quarter in the previous year, the business posted $0.78 EPS.
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Several other equities analysts have also commented on the company. SunTrust Banks, Inc. reissued a “buy” rating and set a $90.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday. Zacks Investment Research lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada started coverage on Texas Capital Bancshares in a research report on Wednesday, September 6th. They set an “outperform” rating and a $90.00 price objective for the company. ValuEngine downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $86.00 price target on shares of Texas Capital Bancshares in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $87.33.
Shares of Texas Capital Bancshares (NASDAQ TCBI) traded up 1.36% during mid-day trading on Thursday, reaching $85.75. 85,799 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $77.58 and a 200 day moving average of $77.80. The firm has a market capitalization of $4.25 billion, a P/E ratio of 23.80 and a beta of 1.68. Texas Capital Bancshares has a one year low of $53.21 and a one year high of $93.35.
In other Texas Capital Bancshares news, insider C Keith Cargill acquired 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 11th. The stock was bought 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 $5,953,206.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. BlackRock Inc. increased its holdings in Texas Capital Bancshares by 19,441.6% in the 1st quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock worth $466,900,000 after buying an additional 5,566,317 shares in the last quarter. State Street Corp increased its holdings in Texas Capital Bancshares by 48.4% in the 1st quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after buying an additional 994,585 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at about $661,000. Balyasny Asset Management LLC grew its stake in shares of Texas Capital Bancshares by 474.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock valued at $50,914,000 after purchasing an additional 543,299 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Texas Capital Bancshares by 26.5% during the 2nd quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock valued at $164,699,000 after purchasing an additional 445,248 shares during the period.
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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