Brokerages Set Texas Capital Bancshares, Inc. (TCBI) Price Target at $85.92
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $85.92.
A number of equities analysts have issued reports on TCBI shares. BidaskClub upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Texas Capital Bancshares in a report on Friday, July 14th. Barclays PLC restated an “equal weight” rating and set a $80.00 target price (up previously from $75.00) on shares of Texas Capital Bancshares in a report on Wednesday, July 12th. ValuEngine upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research cut Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, July 7th.
Texas Capital Bancshares (NASDAQ:TCBI) traded up 0.88% during mid-day trading on Friday, reaching $80.65. The company’s stock had a trading volume of 140,650 shares. Texas Capital Bancshares has a 12 month low of $51.69 and a 12 month high of $93.35. The stock’s 50 day moving average is $75.47 and its 200 day moving average is $78.05. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 22.38 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The firm had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter last year, the business earned $0.78 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post $4.01 EPS for the current year.
In other news, insider C Keith Cargill bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $74.15 per share, with a total value of $222,450.00. Following the transaction, the insider now owns 80,286 shares in the company, valued at $5,953,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Texas Capital Bancshares by 19,441.6% in the 1st 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 during the last quarter. Vanguard Group Inc. raised its position in Texas Capital Bancshares by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock valued at $313,721,000 after buying an additional 98,473 shares during the last quarter. State Street Corp raised its position in Texas Capital Bancshares by 14.8% in the 2nd quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock valued at $270,711,000 after buying an additional 449,797 shares during the last quarter. Capital Research Global Investors raised its position in Texas Capital Bancshares by 26.5% in the 2nd 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 during the last quarter. Finally, American Century Companies Inc. raised its position in Texas Capital Bancshares by 37.2% in the 2nd quarter. American Century Companies Inc. now owns 1,619,357 shares of the bank’s stock valued at $125,338,000 after buying an additional 438,887 shares during the last quarter.
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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