Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) have been given a consensus recommendation of “Hold” by the nineteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $85.92.
TCBI has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Texas Capital Bancshares in a research report on Wednesday, September 6th. They set an “outperform” rating and a $90.00 price objective on the stock. ValuEngine downgraded shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $86.00 price target on shares of Texas Capital Bancshares in a report on Friday, September 1st. BidaskClub cut shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Hovde Group lifted their price objective on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st.
In related news, insider C Keith Cargill bought 3,000 shares of the 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 completion of the purchase, the insider now directly owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TCBI. BlackRock Inc. boosted 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 valued at $466,900,000 after purchasing an additional 5,566,317 shares during the period. State Street Corp boosted 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 valued at $254,339,000 after purchasing an additional 994,585 shares during the period. Koch Industries Inc. purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $661,000. Balyasny Asset Management LLC boosted 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 valued at $50,914,000 after purchasing an additional 543,299 shares during the period. Finally, Capital Research Global Investors boosted 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 valued at $164,699,000 after purchasing an additional 445,248 shares during the period.
Texas Capital Bancshares (NASDAQ:TCBI) remained flat at $77.35 during midday trading on Friday. The company had a trading volume of 1,210,969 shares. The stock has a market cap of $3.84 billion, a PE ratio of 21.47 and a beta of 1.67. The stock’s 50-day moving average is $75.43 and its 200 day moving average is $78.30. Texas Capital Bancshares has a 52 week low of $51.02 and a 52 week high of $93.35.
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 Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The company had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities research analysts predict that Texas Capital Bancshares will post $4.01 earnings per share for the current year.
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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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