Texas Capital Bancshares Inc. (TCBI) Price Target Raised to $58.00 at Barclays PLC
Texas Capital Bancshares Inc. (NASDAQ:TCBI) had its price objective increased by Barclays PLC from $52.00 to $58.00 in a note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price objective would suggest a potential upside of 1.31% from the stock’s current price.
Several other research firms have also issued reports on TCBI. Deutsche Bank AG increased their target price on Texas Capital Bancshares from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. TheStreet lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Raymond James Financial Inc. reissued an “outperform” rating and set a $54.00 target price (up previously from $52.00) on shares of Texas Capital Bancshares in a research note on Thursday, July 21st. Finally, Compass Point started coverage on Texas Capital Bancshares in a research note on Friday, July 1st. They set a “buy” rating and a $54.00 target price on the stock. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.50.
Texas Capital Bancshares (NASDAQ:TCBI) traded down 1.22% during trading on Tuesday, reaching $56.55. The company’s stock had a trading volume of 349,017 shares. The stock has a market capitalization of $2.60 billion, a PE ratio of 20.87 and a beta of 1.47. The stock has a 50 day moving average price of $53.20 and a 200 day moving average price of $47.72. Texas Capital Bancshares has a 1-year low of $29.78 and a 1-year high of $61.83.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 19.73%. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Analysts anticipate that Texas Capital Bancshares will post $2.99 earnings per share for the current fiscal year.
In other news, Director James H. Browning sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $52.55, for a total value of $131,375.00. Following the completion of the sale, the director now directly owns 8,314 shares of the company’s stock, valued at approximately $436,900.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock valued at $118,000 after buying an additional 1,527 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Texas Capital Bancshares during the second quarter valued at approximately $149,000. Strs Ohio boosted its stake in Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock valued at $187,000 after buying an additional 3,200 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Texas Capital Bancshares during the second quarter valued at approximately $205,000. Finally, Suntrust Banks Inc. acquired a new stake in Texas Capital Bancshares during the second quarter valued at approximately $230,000.
Texas Capital Bancshares Company Profile
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 loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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