Texas Capital Bancshares Inc (TCBI) Stock Rating Reaffirmed by Royal Bank Of Canada
Several other analysts have also recently weighed in on the stock. BidaskClub raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a buy rating and set a $104.00 price objective on shares of Texas Capital Bancshares in a research report on Friday, July 14th. Barclays PLC reaffirmed an equal weight rating and set a $80.00 price objective (up previously from $75.00) on shares of Texas Capital Bancshares in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a hold rating and set a $86.00 price objective on shares of Texas Capital Bancshares in a research report on Friday, September 1st. Finally, ValuEngine raised shares of Texas Capital Bancshares from a hold rating to a buy rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $89.60.
Shares of Texas Capital Bancshares (NASDAQ TCBI) opened at 86.90 on Friday. Texas Capital Bancshares has a 1-year low of $56.25 and a 1-year high of $93.35. The stock’s 50 day moving average is $81.99 and its 200 day moving average is $78.16. The company has a market cap of $4.31 billion, a P/E ratio of 24.12 and a beta of 1.68.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 26.27% and a return on equity of 11.40%. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $214.08 million. During the same quarter in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Texas Capital Bancshares will post $4.04 earnings per share for the current year.
In other Texas Capital Bancshares news, insider C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter B. Bartholow sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,171 shares of the company’s stock, valued at approximately $2,990,645.92. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
A number of hedge funds have recently modified their holdings of TCBI. BlackRock Inc. boosted 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 period. State Street Corp boosted its position in Texas Capital Bancshares by 48.4% in the 1st 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 during the period. Koch Industries Inc. purchased a new position in Texas Capital Bancshares in the 2nd quarter valued at approximately $661,000. Balyasny Asset Management LLC boosted its position in Texas Capital Bancshares by 474.5% in the 2nd 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 during the period. Finally, Capital Research Global Investors boosted 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 period.
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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