Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $61.00

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by Wedbush from $66.00 to $61.00 in a report published on Thursday, The Fly reports. They currently have a neutral rating on the bank’s stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2020 earnings at $1.31 EPS, Q3 2020 earnings at $1.47 EPS, Q1 2021 earnings at $1.38 EPS, Q2 2021 earnings at $1.48 EPS, Q3 2021 earnings at $1.54 EPS and Q4 2021 earnings at $1.49 EPS.

TCBI has been the subject of a number of other reports. BidaskClub downgraded shares of Texas Capital Bancshares from a sell rating to a strong sell rating in a research note on Wednesday, January 1st. SunTrust Banks dropped their price target on shares of Texas Capital Bancshares from $63.00 to $58.00 and set a hold rating for the company in a research note on Thursday, October 17th. Zacks Investment Research raised shares of Texas Capital Bancshares from a sell rating to a hold rating and set a $58.00 price target for the company in a research note on Monday, October 21st. Sandler O’Neill raised shares of Texas Capital Bancshares from a hold rating to a buy rating and set a $72.00 price target for the company in a research note on Wednesday, December 11th. Finally, ValuEngine raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a research note on Saturday, January 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Texas Capital Bancshares currently has an average rating of Hold and an average price target of $61.83.

Shares of TCBI traded down $0.57 on Thursday, reaching $53.15. 532,275 shares of the company’s stock were exchanged, compared to its average volume of 712,712. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $2.69 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 1.18 and a beta of 1.88. The business has a 50 day moving average price of $57.44 and a two-hundred day moving average price of $56.73. Texas Capital Bancshares has a 12 month low of $50.77 and a 12 month high of $66.61.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.13). The business had revenue of $266.15 million for the quarter, compared to the consensus estimate of $256.26 million. Texas Capital Bancshares had a return on equity of 12.87% and a net margin of 22.15%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 5.65 EPS for the current year.

In other Texas Capital Bancshares news, Director Steve Rosenberg sold 1,997 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $55.48, for a total value of $110,793.56. Following the completion of the sale, the director now owns 36,115 shares of the company’s stock, valued at $2,003,660.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Texas Capital Bancshares by 0.5% in the second quarter. Vanguard Group Inc. now owns 4,598,074 shares of the bank’s stock valued at $282,182,000 after purchasing an additional 20,884 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Texas Capital Bancshares by 22.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 503,689 shares of the bank’s stock valued at $28,594,000 after purchasing an additional 92,272 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Texas Capital Bancshares by 50.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 437,188 shares of the bank’s stock valued at $23,892,000 after purchasing an additional 146,514 shares in the last quarter. Bank of America Corp DE increased its stake in Texas Capital Bancshares by 1.3% in the second quarter. Bank of America Corp DE now owns 373,715 shares of the bank’s stock valued at $22,934,000 after purchasing an additional 4,688 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Texas Capital Bancshares by 9.6% during the third quarter. First Trust Advisors LP now owns 259,214 shares of the bank’s stock worth $14,166,000 after acquiring an additional 22,781 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

About Texas Capital Bancshares

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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