Texas Capital Bancshares Inc (NASDAQ:TCBI) – Research analysts at Wedbush raised their FY2019 earnings estimates for shares of Texas Capital Bancshares in a research note issued on Thursday, October 17th. Wedbush analyst P. Winter now forecasts that the bank will post earnings per share of $6.21 for the year, up from their prior forecast of $6.01. Wedbush has a “Neutral” rating and a $57.00 price target on the stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q4 2019 earnings at $1.42 EPS, Q1 2020 earnings at $1.23 EPS, Q2 2020 earnings at $1.33 EPS, Q3 2020 earnings at $1.55 EPS, Q4 2020 earnings at $1.50 EPS, FY2020 earnings at $5.62 EPS and FY2021 earnings at $5.96 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 16th. The bank reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.21. The company had revenue of $272.47 million for the quarter, compared to analyst estimates of $262.12 million. Texas Capital Bancshares had a return on equity of 12.95% and a net margin of 22.29%. During the same period in the prior year, the firm posted $1.65 EPS.
Several other analysts have also issued reports on TCBI. TheStreet lowered Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Friday, August 30th. UBS Group lowered Texas Capital Bancshares from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $62.00 to $52.00 in a report on Monday, August 5th. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a report on Monday. Raymond James lowered Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, August 29th. Finally, Stephens reissued a “hold” rating and set a $56.00 target price on shares of Texas Capital Bancshares in a report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $59.89.
TCBI opened at $55.51 on Monday. The firm has a market cap of $2.80 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.88. Texas Capital Bancshares has a 52-week low of $47.86 and a 52-week high of $67.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. The business’s fifty day moving average is $54.45 and its 200-day moving average is $58.37.
Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in Texas Capital Bancshares by 2.2% in the second quarter. Swiss National Bank now owns 93,450 shares of the bank’s stock valued at $5,735,000 after buying an additional 2,000 shares in the last quarter. Context BH Capital Management LP boosted its stake in Texas Capital Bancshares by 2.3% in the second quarter. Context BH Capital Management LP now owns 268,371 shares of the bank’s stock valued at $16,470,000 after buying an additional 6,000 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Texas Capital Bancshares by 0.3% in the second quarter. Fisher Asset Management LLC now owns 248,736 shares of the bank’s stock valued at $15,265,000 after buying an additional 814 shares in the last quarter. HighTower Advisors LLC boosted its stake in Texas Capital Bancshares by 233.2% in the second quarter. HighTower Advisors LLC now owns 32,040 shares of the bank’s stock valued at $1,967,000 after buying an additional 22,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Texas Capital Bancshares by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 251,877 shares of the bank’s stock valued at $15,458,000 after buying an additional 9,454 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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