Texas Capital Bancshares (NASDAQ:TCBI) PT Lowered to $58.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective trimmed by SunTrust Banks from $63.00 to $58.00 in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a hold rating on the bank’s stock.

Several other research analysts have also recently weighed in on TCBI. Raymond James cut shares of Texas Capital Bancshares from an outperform rating to a market perform rating in a research report on Thursday, August 29th. UBS Group cut shares of Texas Capital Bancshares from a neutral rating to a sell rating and lowered their price target for the company from $62.00 to $52.00 in a research report on Monday, August 5th. ValuEngine raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a research report on Wednesday, October 2nd. BidaskClub raised shares of Texas Capital Bancshares from a strong sell rating to a sell rating in a research report on Thursday, September 12th. Finally, TheStreet cut shares of Texas Capital Bancshares from a b- rating to a c+ rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of Hold and a consensus target price of $60.11.

Texas Capital Bancshares stock opened at $55.66 on Thursday. Texas Capital Bancshares has a 52-week low of $47.86 and a 52-week high of $67.73. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.18 and a beta of 1.88. The company has a fifty day simple moving average of $54.30 and a 200-day simple moving average of $58.38. The company has a quick ratio of 1.21, a current ratio of 1.20 and a debt-to-equity ratio of 1.11.

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 Zacks’ consensus estimate of $1.49 by $0.21. Texas Capital Bancshares had a net margin of 22.29% and a return on equity of 12.95%. The business had revenue of $272.47 million during the quarter, compared to analyst estimates of $262.12 million. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, research analysts anticipate that Texas Capital Bancshares will post 6.17 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in TCBI. Zeke Capital Advisors LLC increased its stake in Texas Capital Bancshares by 55.3% in the third quarter. Zeke Capital Advisors LLC now owns 16,366 shares of the bank’s stock valued at $894,000 after purchasing an additional 5,826 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Texas Capital Bancshares by 57.0% in the third quarter. State of Alaska Department of Revenue now owns 8,937 shares of the bank’s stock valued at $488,000 after purchasing an additional 3,243 shares during the last quarter. LBJ Family Wealth Advisors Ltd. increased its stake in Texas Capital Bancshares by 13.9% in the third quarter. LBJ Family Wealth Advisors Ltd. now owns 26,985 shares of the bank’s stock valued at $1,475,000 after purchasing an additional 3,292 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Texas Capital Bancshares by 13.7% in the second quarter. Treasurer of the State of North Carolina now owns 24,678 shares of the bank’s stock valued at $1,514,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Natixis purchased a new position in Texas Capital Bancshares in the second quarter valued at approximately $7,340,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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