Texas Capital Bancshares (TCBI) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $104.00 price target on the bank’s stock.
According to Zacks, “Shares of Texas Capital have outperformed the industry so far this year. This price performance is backed by the company’s decent earnings surprise history. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company’s diversified fee income sources should continue driving its top-line growth. Also, Texas Capital’s margins have relaxed to some extent, following four rate hikes since December 2016. However, persistently increasing expenses mainly due to hiring of experienced bankers is likely to hurt bottom line growth. Nevertheless, the company's strong capital position remains a tailwind.”
A number of other equities analysts also recently weighed in on TCBI. Royal Bank of Canada restated a buy rating on shares of Texas Capital Bancshares in a report on Friday, October 20th. Bank of America restated a buy rating and set a $100.00 target price (up from $97.00) on shares of Texas Capital Bancshares in a report on Thursday, October 19th. SunTrust Banks restated a buy rating and set a $95.00 target price on shares of Texas Capital Bancshares in a report on Thursday, October 19th. Deutsche Bank boosted their target price on shares of Texas Capital Bancshares from $93.00 to $95.00 and gave the stock a hold rating in a report on Wednesday, November 8th. Finally, Barclays set a $87.00 target price on shares of Texas Capital Bancshares and gave the stock a hold rating in a report on Friday, October 20th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Texas Capital Bancshares currently has a consensus rating of Buy and a consensus price target of $93.93.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) opened at $91.35 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 1.44. Texas Capital Bancshares has a fifty-two week low of $69.65 and a fifty-two week high of $95.20. The stock has a market cap of $4,602.86, a P/E ratio of 23.73, a PEG ratio of 1.92 and a beta of 1.66.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $214.08 million. During the same period last year, the company earned $0.87 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. sell-side analysts predict that Texas Capital Bancshares will post 4.04 EPS for the current fiscal year.
In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of Texas Capital Bancshares stock in a transaction 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 $2,990,645.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. 1st Global Advisors Inc. boosted its position in shares of Texas Capital Bancshares by 1.1% in the second quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock valued at $540,000 after acquiring an additional 77 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Texas Capital Bancshares by 0.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,631 shares of the bank’s stock valued at $978,000 after acquiring an additional 96 shares during the period. Peloton Wealth Strategists boosted its position in shares of Texas Capital Bancshares by 0.9% in the second quarter. Peloton Wealth Strategists now owns 17,050 shares of the bank’s stock valued at $1,320,000 after acquiring an additional 150 shares during the period. Amalgamated Bank boosted its position in shares of Texas Capital Bancshares by 2.5% in the second quarter. Amalgamated Bank now owns 7,144 shares of the bank’s stock valued at $553,000 after acquiring an additional 175 shares during the period. Finally, Suntrust Banks Inc. lifted its position in Texas Capital Bancshares by 5.0% during the second quarter. Suntrust Banks Inc. now owns 4,674 shares of the bank’s stock worth $360,000 after purchasing an additional 223 shares during the period.
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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