Texas Capital Bancshares, Inc. (TCBI) Receives “Buy” Rating from SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their buy rating on shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in a research note issued to investors on Wednesday. The brokerage currently has a $90.00 target price on the bank’s stock.
Other research analysts have also recently issued research reports about the company. Wedbush cut Texas Capital Bancshares from an outperform rating to a neutral rating and reduced their price objective for the stock from $88.00 to $87.00 in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research cut Texas Capital Bancshares from a hold rating to a sell rating in a research note on Tuesday. Royal Bank Of Canada initiated coverage on Texas Capital Bancshares in a research note on Wednesday, September 6th. They set an outperform rating and a $90.00 price objective on the stock. ValuEngine cut Texas Capital Bancshares from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies restated a hold rating and set a $86.00 price objective on shares of Texas Capital Bancshares in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of Hold and a consensus price target of $87.33.
Texas Capital Bancshares (NASDAQ:TCBI) traded up 1.42% during trading on Wednesday, reaching $85.80. The company had a trading volume of 386,149 shares. Texas Capital Bancshares has a 12 month low of $53.21 and a 12 month high of $93.35. The company has a market capitalization of $4.26 billion, a P/E ratio of 23.81 and a beta of 1.68. The firm’s 50 day moving average is $77.58 and its 200-day moving average is $77.80.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its 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 10.01% 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 firm earned $0.78 earnings per share. On average, equities analysts expect that Texas Capital Bancshares will post $4.01 earnings per share for the current year.
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In other Texas Capital Bancshares news, insider C Keith Cargill purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the purchase, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TCBI. Exane Derivatives acquired a new position in shares of Texas Capital Bancshares in the second quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Texas Capital Bancshares by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock worth $156,000 after acquiring an additional 248 shares in the last quarter. Hilton Capital Management LLC acquired a new position in shares of Texas Capital Bancshares in the second quarter worth about $201,000. Cubist Systematic Strategies LLC acquired a new position in shares of Texas Capital Bancshares in the second quarter worth about $201,000. Finally, D.A. Davidson & CO. lifted its stake in shares of Texas Capital Bancshares by 14.3% in the second quarter. D.A. Davidson & CO. now owns 2,632 shares of the bank’s stock worth $203,000 after acquiring an additional 329 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.
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