Texas Capital Bancshares Inc. (TCBI) Price Target Raised to $66.00
Texas Capital Bancshares Inc. (NASDAQ:TCBI) had its target price upped by equities research analysts at Deutsche Bank AG from $56.00 to $66.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Deutsche Bank AG’s price target would suggest a potential upside of 15.28% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. Bank of America Corp. cut shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. TheStreet upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Wedbush initiated coverage on shares of Texas Capital Bancshares in a research note on Thursday, October 6th. They issued a “neutral” rating and a $54.00 target price for the company. Citigroup Inc. cut shares of Texas Capital Bancshares to an “outperform” rating and increased their target price for the company from $52.00 to $54.00 in a research note on Thursday, July 21st. Finally, Compass Point initiated coverage on shares of Texas Capital Bancshares in a research note on Friday, July 1st. They issued a “buy” rating and a $54.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.50.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded down 1.31% during trading on Tuesday, reaching $56.50. The company’s stock had a trading volume of 348,765 shares. Texas Capital Bancshares has a 12 month low of $29.78 and a 12 month high of $61.83. The company’s 50-day moving average is $53.20 and its 200-day moving average is $47.72. The company has a market capitalization of $2.60 billion, a P/E ratio of 20.85 and a beta of 1.47.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a net margin of 19.73% and a return on equity of 9.14%. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, analysts forecast that Texas Capital Bancshares will post $2.99 EPS for the current fiscal year.
In other news, Director James H. Browning sold 2,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.55, for a total value of $131,375.00. Following the completion of the transaction, the director now owns 8,314 shares in the company, valued at $436,900.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TCBI. BlackRock Inc. raised its stake in shares of Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock worth $118,000 after buying an additional 1,527 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Texas Capital Bancshares during the second quarter worth $149,000. Strs Ohio raised its stake in shares of Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock worth $187,000 after buying an additional 3,200 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Texas Capital Bancshares during the second quarter worth $205,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Texas Capital Bancshares during the second quarter worth $230,000.
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 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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