Texas Capital Bancshares, Inc. (TCBI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have been assigned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $85.00.
TCBI has been the subject of several research reports. Wedbush upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and increased their target price for the company 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 previously from $75.00) on shares of Texas Capital Bancshares in a research note on Wednesday, July 12th.
In other news, insider C Keith Cargill acquired 3,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $74.15 per share, with a total value of $222,450.00. Following the completion of the acquisition, the insider now owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Peter B. Bartholow sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $74.52, for a total transaction of $298,080.00. Following the sale, the chief financial officer now directly owns 37,671 shares of the company’s stock, valued at approximately $2,807,242.92. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Several hedge funds have recently modified their holdings of TCBI. BlackRock Inc. raised its stake in shares of Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock worth $466,900,000 after buying an additional 5,566,317 shares in the last quarter. State Street Corp raised its stake in shares of Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after buying an additional 994,585 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Texas Capital Bancshares during the second quarter worth $661,000. Balyasny Asset Management LLC raised its stake in shares of Texas Capital Bancshares by 474.5% in the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock worth $50,914,000 after buying an additional 543,299 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of 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 worth $164,699,000 after buying an additional 445,248 shares in the last quarter.
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Texas Capital Bancshares (TCBI) traded up 1.01% during midday trading on Tuesday, reaching $74.75. The company’s stock had a trading volume of 334,136 shares. The company has a 50 day moving average of $77.35 and a 200-day moving average of $79.59. Texas Capital Bancshares has a 1-year low of $48.01 and a 1-year high of $93.35. The company has a market capitalization of $3.71 billion, a P/E ratio of 20.71 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The company had revenue of $201.73 million for the quarter, compared to the consensus estimate of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same period last year, the business posted $0.78 earnings per share. Equities research analysts anticipate that Texas Capital Bancshares will post $4.01 earnings per share for the current fiscal year.
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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