Texas Capital Bancshares Inc (TCBI) Shares Down 6.3% on Disappointing Earnings

Texas Capital Bancshares Inc (NASDAQ:TCBI) traded down 6.3% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $70.65 and last traded at $73.83, with a volume of 2,541,419 shares trading hands. The stock had previously closed at $78.75.

The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.08. The firm earned $180.47 million during the quarter, compared to analysts’ expectations of $192.60 million. Texas Capital Bancshares had a return on equity of 9.94% and a net margin of 19.98%. During the same period last year, the firm posted $0.49 earnings per share.

Several research analysts have issued reports on the stock. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Texas Capital Bancshares in a report on Thursday. Stephens reaffirmed a “hold” rating on shares of Texas Capital Bancshares in a report on Thursday. Keefe, Bruyette & Woods set a $83.00 target price on shares of Texas Capital Bancshares and gave the stock a “hold” rating in a report on Monday, April 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $102.00 target price on shares of Texas Capital Bancshares in a report on Tuesday, March 21st. Finally, JMP Securities assumed coverage on shares of Texas Capital Bancshares in a report on Thursday, February 2nd. They issued an “outperform” rating and a $98.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $73.57.

A number of hedge funds have recently made changes to their positions in TCBI. Federated Investors Inc. PA acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $128,000. Tyers Asset Management LLC acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $180,000. Cantab Capital Partners LLP acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $205,000. Strategic Investment Management LLC acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $215,000. Finally, Flinton Capital Management LLC acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $219,000. Institutional investors own 95.46% of the company’s stock.

The stock’s 50 day moving average is $83.68 and its 200 day moving average is $76.05. The firm has a market capitalization of $3.66 billion, a P/E ratio of 23.738 and a beta of 1.41.

TRADEMARK VIOLATION WARNING: “Texas Capital Bancshares Inc (TCBI) Shares Down 6.3% on Disappointing Earnings” was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at http://www.wkrb13.com/markets/2065450/texas-capital-bancshares-inc-tcbi-shares-down-6-3-on-disappointing-earnings.html.

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.

5 Day Chart for NASDAQ:TCBI

This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2065450/texas-capital-bancshares-inc-tcbi-shares-down-6-3-on-disappointing-earnings.html

Receive News & Ratings for Texas Capital Bancshares Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares Inc and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.