FY2017 EPS Estimates for Texas Capital Bancshares Inc Cut by DA Davidson (TCBI)
Texas Capital Bancshares Inc (NASDAQ:TCBI) – Stock analysts at DA Davidson cut their FY2017 EPS estimates for shares of Texas Capital Bancshares in a research note issued to investors on Thursday. DA Davidson analyst G. Tenner now anticipates that the bank will earn $3.96 per share for the year, down from their prior estimate of $3.98. DA Davidson currently has a “Neutral” rating and a $90.00 target price on the stock.
Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Texas Capital Bancshares in a research note on Friday, July 14th. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Tuesday, July 11th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, October 4th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $100.00 price objective (up from $97.00) on shares of Texas Capital Bancshares in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $89.60.
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Texas Capital Bancshares (NASDAQ:TCBI) opened at 88.00 on Monday. Texas Capital Bancshares has a 52 week low of $56.25 and a 52 week high of $93.35. The firm has a 50-day moving average of $81.66 and a 200-day moving average of $78.18. The company has a market capitalization of $4.36 billion, a PE ratio of 24.42 and a beta of 1.68.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $214.08 million. During the same period last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. UBS Asset Management Americas Inc. raised its holdings in Texas Capital Bancshares by 19.3% during the first quarter. UBS Asset Management Americas Inc. now owns 28,965 shares of the bank’s stock worth $2,417,000 after buying an additional 4,681 shares during the last quarter. FMR LLC acquired a new position in Texas Capital Bancshares during the first quarter worth $21,563,000. Teachers Advisors LLC raised its holdings in Texas Capital Bancshares by 3.6% during the first quarter. Teachers Advisors LLC now owns 99,740 shares of the bank’s stock worth $8,323,000 after buying an additional 3,461 shares during the last quarter. California Public Employees Retirement System raised its holdings in Texas Capital Bancshares by 1.2% during the first quarter. California Public Employees Retirement System now owns 86,100 shares of the bank’s stock worth $7,185,000 after buying an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Texas Capital Bancshares by 11.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,282 shares of the bank’s stock worth $441,000 after buying an additional 540 shares during the last quarter.
In related news, insider C Keith Cargill bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $74.15 per share, with a total value of $222,450.00. Following the completion of the purchase, the insider now directly owns 80,286 shares in the company, valued at $5,953,206.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.
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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