Texas Capital Bancshares Inc (TCBI) Given “Neutral” Rating at DA Davidson
Texas Capital Bancshares Inc (NASDAQ:TCBI)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $90.00 price objective on the bank’s stock. DA Davidson’s target price would suggest a potential upside of 2.27% from the stock’s previous close. DA Davidson also issued estimates for Texas Capital Bancshares’ Q4 2017 earnings at $1.08 EPS, Q1 2018 earnings at $1.04 EPS, Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.79 EPS.
Several other research analysts have also commented on TCBI. BidaskClub lowered shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Hovde Group raised 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 report on Tuesday, August 1st. Finally, Stephens restated a “hold” rating and issued a $84.00 price target on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $89.60.
Texas Capital Bancshares (NASDAQ TCBI) traded up 1.15% during midday trading on Thursday, hitting $88.00. 424,112 shares of the stock were exchanged. The firm has a 50 day moving average of $81.66 and a 200-day moving average of $78.18. Texas Capital Bancshares has a 12-month low of $56.25 and a 12-month high of $93.35. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 24.42 and a beta of 1.68.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 26.27% and a return on equity of 11.40%. The firm had revenue of $204.40 million for the quarter, compared to analyst estimates of $214.08 million. During the same quarter last year, the firm posted $0.87 earnings per share. Texas Capital Bancshares’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Texas Capital Bancshares will post $4.04 earnings per share for the current year.
In other news, insider C Keith Cargill purchased 3,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $74.15 per share, with a total value of $222,450.00. Following the completion of the acquisition, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock worth $466,900,000 after acquiring an additional 5,566,317 shares in the last quarter. Vanguard Group Inc. raised its position in Texas Capital Bancshares by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock worth $313,721,000 after acquiring an additional 98,473 shares in the last quarter. State Street Corp raised its position in Texas Capital Bancshares by 14.8% in the second quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock worth $270,711,000 after acquiring an additional 449,797 shares in the last quarter. Capital Research Global Investors raised its position in Texas Capital Bancshares by 26.5% in the second quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock worth $164,699,000 after acquiring an additional 445,248 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Texas Capital Bancshares by 37.2% in the second quarter. American Century Companies Inc. now owns 1,619,357 shares of the bank’s stock worth $125,338,000 after acquiring an additional 438,887 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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