Texas Capital Bancshares Inc. (TCBI) Receives $51.60 Consensus Price Target from Brokerages
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) have earned an average rating of “Hold” from the twenty-one research firms that are presently covering the company. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $52.81.
Several research firms have recently weighed in on TCBI. Bank of America Corp. downgraded shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Compass Point began coverage on shares of 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. Deutsche Bank AG lifted their target price on shares of Texas Capital Bancshares from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. TheStreet downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $54.00 target price (up from $52.00) on shares of Texas Capital Bancshares in a research note on Thursday, July 21st.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.55, for a total transaction of $131,375.00. Following the completion of the transaction, the director now owns 8,314 shares in the company, valued at approximately $436,900.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.08% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position 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 during the period. Quantbot Technologies LP purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $149,000. Strs Ohio boosted its position 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 during the period. GSA Capital Partners LLP purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $205,000. Finally, Suntrust Banks Inc. purchased a new position in Texas Capital Bancshares during the second quarter valued at approximately $230,000.
Texas Capital Bancshares (NASDAQ:TCBI) opened at 56.55 on Monday. Texas Capital Bancshares has a one year low of $29.78 and a one year high of $61.83. The firm has a market capitalization of $2.60 billion, a PE ratio of 20.87 and a beta of 1.47. The firm has a 50-day moving average price of $53.54 and a 200 day moving average price of $47.85.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping 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 prior year, the company earned $0.76 EPS. Analysts anticipate that Texas Capital Bancshares will post $2.99 EPS for the current fiscal year.
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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