Texas Capital Bancshares Inc (TCBI) Downgraded by ValuEngine to “Hold”
Texas Capital Bancshares Inc (NASDAQ:TCBI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
TCBI has been the topic of a number of other reports. Wedbush upgraded Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and raised their price target for the company from $79.00 to $86.00 in a research note on Monday, May 8th. BidaskClub cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Stephens restated a “hold” rating and issued a $84.00 price target on shares of Texas Capital Bancshares in a research note on Thursday, July 20th. Hovde Group raised their price target on Texas Capital Bancshares from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $86.62.
Shares of Texas Capital Bancshares (NASDAQ TCBI) traded up 1.35% on Friday, reaching $75.25. The company had a trading volume of 324,853 shares. The company has a 50 day moving average of $76.81 and a 200-day moving average of $79.20. Texas Capital Bancshares has a 52 week low of $48.01 and a 52 week high of $93.35. The company has a market capitalization of $3.73 billion, a P/E ratio of 20.89 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.14% and a net margin of 25.33%. The company had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same period last year, the firm earned $0.78 earnings per share. Analysts predict that Texas Capital Bancshares will post $4.01 earnings per share for the current fiscal year.
In related news, insider C Keith Cargill purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the transaction, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Exane Derivatives bought a new position in shares of Texas Capital Bancshares during the second quarter valued at about $125,000. Canada Pension Plan Investment Board boosted its position in shares of Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock valued at $142,000 after buying an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock valued at $148,000 after buying an additional 563 shares during the period. Parkwood LLC bought a new position in shares of Texas Capital Bancshares during the first quarter valued at about $211,000. Finally, Hilton Capital Management LLC bought a new position in shares of Texas Capital Bancshares during the second quarter valued at about $201,000.
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 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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