Texas Capital Bancshares Inc. (TCBI) Set to Announce Quarterly Earnings on Thursday
Texas Capital Bancshares Inc. (NASDAQ:TCBI) is scheduled to announce its earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.86 per share for the quarter.
Texas Capital Bancshares Inc. (NASDAQ:TCBI) opened at 56.30 on Wednesday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 20.77 and a beta of 1.47. The firm’s 50-day moving average price is $53.98 and its 200 day moving average price is $48.43. Texas Capital Bancshares Inc. has a one year low of $29.78 and a one year high of $61.83.
In other news, Director James H. Browning sold 2,500 shares of the stock in a transaction dated 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 sale, the director now directly owns 8,314 shares in the company, valued at $436,900.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new stake in Texas Capital Bancshares during the second quarter worth $314,000. KCG Holdings Inc. bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $379,000. Summit Securities Group LLC bought a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $472,000. Profund Advisors LLC raised its stake in shares of Texas Capital Bancshares by 2.9% in the second quarter. Profund Advisors LLC now owns 10,837 shares of the company’s stock valued at $507,000 after buying an additional 304 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Texas Capital Bancshares by 267.3% in the second quarter. BlackRock Inc. now owns 11,375 shares of the company’s stock valued at $533,000 after buying an additional 8,278 shares during the period.
TCBI has been the topic of several research analyst reports. Barclays PLC upped their price target on shares of Texas Capital Bancshares from $52.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 11th. Citigroup Inc. cut shares of Texas Capital Bancshares to an “outperform” rating and upped their price target for the stock from $52.00 to $54.00 in a report on Thursday, July 21st. Zacks Investment Research raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Wedbush initiated coverage on shares of Texas Capital Bancshares in a report on Thursday, October 6th. They issued a “neutral” rating and a $54.00 price target on the stock. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $54.00 price target (up previously from $52.00) on shares of Texas Capital Bancshares in a report on Thursday, July 21st. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.50.
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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