Texas Capital Bancshares Inc (TCBI) Given “Hold” Rating at Piper Jaffray Companies
Texas Capital Bancshares Inc (NASDAQ:TCBI)‘s stock had its “hold” rating restated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $86.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 15.79% from the stock’s current price.
Several other analysts have also recently issued reports on TCBI. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $79.00 to $86.00 in a research note on Monday, May 8th. BidaskClub cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $80.00 target price (up from $75.00) on shares of Texas Capital Bancshares in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $86.62.
Texas Capital Bancshares (TCBI) traded up 1.41% during midday trading on Friday, hitting $75.30. 132,235 shares of the stock were exchanged. The firm’s 50-day moving average price is $76.91 and its 200 day moving average price is $79.29. Texas Capital Bancshares has a 1-year low of $48.01 and a 1-year high of $93.35. The firm has a market capitalization of $3.73 billion, a P/E ratio of 20.90 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 25.33% and a return on equity of 10.14%. The business had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same period in the prior year, the company posted $0.78 EPS. Analysts expect that Texas Capital Bancshares will post $4.01 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/01/texas-capital-bancshares-inc-tcbi-given-hold-rating-at-piper-jaffray-companies.html.
In related news, insider C Keith Cargill acquired 3,000 shares of the stock in a transaction dated 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 owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock valued at $466,900,000 after buying an additional 5,566,317 shares in the last quarter. State Street Corp raised its position in Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock valued at $254,339,000 after buying an additional 994,585 shares in the last quarter. Koch Industries Inc. acquired a new position in Texas Capital Bancshares during the second quarter valued at approximately $661,000. Balyasny Asset Management LLC raised its position in Texas Capital Bancshares by 474.5% in the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock valued at $50,914,000 after buying an additional 543,299 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Texas Capital Bancshares by 26.5% in the second quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock valued at $164,699,000 after buying an additional 445,248 shares in the last quarter.
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 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.
Receive News & Stock Ratings for Texas Capital Bancshares Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares Inc and related stocks with our FREE daily email newsletter.