BidaskClub upgraded shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) from a sell rating to a hold rating in a report published on Wednesday.
A number of other analysts have also recently weighed in on TCBI. ValuEngine raised Texas Capital Bancshares from a hold rating to a buy rating in a research report on Tuesday, June 27th. Barclays PLC reaffirmed a hold rating and set a $75.00 price objective (down from $78.00) on shares of Texas Capital Bancshares in a research report on Friday, April 21st. Keefe, Bruyette & Woods set a $83.00 price objective on Texas Capital Bancshares and gave the stock a hold rating in a research report on Monday, April 3rd. Stephens reaffirmed a hold rating on shares of Texas Capital Bancshares in a research report on Thursday, April 20th. Finally, Piper Jaffray Companies reaffirmed a neutral rating and set a $80.00 price objective (down from $85.00) on shares of Texas Capital Bancshares in a research report on Saturday, April 22nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Texas Capital Bancshares has a consensus rating of Hold and an average price target of $83.25.
Shares of Texas Capital Bancshares (TCBI) traded down 0.38% on Wednesday, reaching $77.75. The company had a trading volume of 23,510 shares. The company’s 50-day moving average price is $75.78 and its 200 day moving average price is $80.23. Texas Capital Bancshares has a 52 week low of $45.86 and a 52 week high of $93.35. The firm has a market capitalization of $3.85 billion, a P/E ratio of 22.78 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by $0.08. Texas Capital Bancshares had a net margin of 21.42% and a return on equity of 9.90%. The firm had revenue of $180.47 million during the quarter, compared to analyst estimates of $192.60 million. During the same period last year, the company earned $0.49 earnings per share. On average, analysts expect that Texas Capital Bancshares will post $3.86 EPS for the current year.
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In related news, CFO Peter B. Bartholow sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $74.52, for a total value of $298,080.00. Following the completion of the transaction, the chief financial officer now directly owns 37,671 shares of the company’s stock, valued at approximately $2,807,242.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider C Keith Cargill acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was purchased at an average cost of $73.57 per share, with a total value of $367,850.00. Following the completion of the purchase, the insider now directly owns 77,286 shares in the company, valued at $5,685,931.02. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in 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 buying an additional 5,566,317 shares during the last quarter. State Street Corp increased its position in 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 buying an additional 994,585 shares during the last quarter. Norges Bank purchased a new position in Texas Capital Bancshares during the fourth quarter valued at $28,896,000. FMR LLC purchased a new position in Texas Capital Bancshares during the first quarter valued at $21,563,000. Finally, Victory Capital Management Inc. increased its position in Texas Capital Bancshares by 123.2% in the first quarter. Victory Capital Management Inc. now owns 424,310 shares of the bank’s stock valued at $35,409,000 after buying an additional 234,208 shares during the last quarter.
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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