Jefferies Group Research Analysts Lower Earnings Estimates for Texas Capital Bancshares, Inc. (TCBI)
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Stock analysts at Jefferies Group reduced their Q3 2017 earnings per share estimates for shares of Texas Capital Bancshares in a research report issued on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will earn $1.15 per share for the quarter, down from their prior estimate of $1.24. Jefferies Group currently has a “Buy” rating and a $104.00 target price on the stock. Jefferies Group also issued estimates for Texas Capital Bancshares’ FY2017 earnings at $4.08 EPS, Q1 2018 earnings at $1.13 EPS, Q2 2018 earnings at $1.20 EPS, Q3 2018 earnings at $1.31 EPS and Q4 2018 earnings at $1.31 EPS.
TCBI has been the subject of several other reports. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Tuesday, July 11th. Royal Bank Of Canada began 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 objective for the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Wedbush lowered shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 price objective (up from $75.00) on shares of Texas Capital Bancshares in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average target price of $87.33.
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Texas Capital Bancshares (NASDAQ TCBI) opened at 86.35 on Wednesday. The stock has a market capitalization of $4.28 billion, a PE ratio of 23.97 and a beta of 1.68. The stock’s 50 day moving average is $79.05 and its 200 day moving average is $77.93. Texas Capital Bancshares has a 12-month low of $54.20 and a 12-month high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the 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 firm had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $197.10 million. During the same period in the previous year, the company earned $0.78 earnings per share.
In other Texas Capital Bancshares news, insider C Keith Cargill bought 3,000 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now directly owns 80,286 shares in the company, valued at approximately $5,953,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Exane Derivatives acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Texas Capital Bancshares by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock worth $156,000 after purchasing an additional 248 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth $201,000. Cubist Systematic Strategies LLC acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth $201,000. Finally, D.A. Davidson & CO. boosted its stake in Texas Capital Bancshares by 14.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,632 shares of the bank’s stock worth $203,000 after purchasing an additional 329 shares during 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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