Texas Capital Bancshares Inc. (TCBI) Shares Up 1%
Texas Capital Bancshares Inc. (NASDAQ:TCBI) shares shot up 1% during trading on Tuesday . The stock traded as high as $50.49 and last traded at $50.34, with a volume of 279,736 shares trading hands. The stock had previously closed at $49.85.
Several research firms recently commented on TCBI. Raymond James Financial Inc. reissued a “strong-buy” rating on shares of Texas Capital Bancshares in a research note on Friday, June 3rd. FIG Partners reaffirmed a “market-perform” rating on shares of Texas Capital Bancshares in a research note on Monday, June 6th. Citigroup Inc. downgraded Texas Capital Bancshares to an “outperform” rating and raised their target price for the stock from $52.00 to $54.00 in a research note on Thursday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $53.00 target price on shares of Texas Capital Bancshares in a research note on Sunday, May 22nd. Finally, Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $52.83.
The stock has a market capitalization of $2.33 billion and a P/E ratio of 18.81. The company’s 50-day moving average price is $47.76 and its 200 day moving average price is $41.62.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 20th. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. During the same period in the previous year, the company earned $0.76 EPS. On average, equities analysts anticipate that Texas Capital Bancshares Inc. will post $2.90 earnings per share for the current fiscal year.
In other Texas Capital Bancshares news, Director Steve Rosenberg sold 982 shares of the business’s stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $45.09, for a total transaction of $44,278.38. Following the sale, the director now directly owns 44,291 shares in the company, valued at $1,997,081.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several hedge funds recently modified their holdings of the stock. SECOR Capital Advisors LP bought a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $1,011,000. TD Asset Management Inc. increased its stake in shares of Texas Capital Bancshares by 9.0% in the fourth quarter. TD Asset Management Inc. now owns 20,520 shares of the company’s stock valued at $1,014,000 after buying an additional 1,700 shares in the last quarter. Russell Frank Co increased its stake in shares of Texas Capital Bancshares by 13.8% in the fourth quarter. Russell Frank Co now owns 25,882 shares of the company’s stock valued at $1,287,000 after buying an additional 3,136 shares in the last quarter. State of Tennessee Treasury Department bought a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $1,759,000. Finally, Comerica Bank increased its stake in shares of Texas Capital Bancshares by 3.0% in the fourth quarter. Comerica Bank now owns 57,633 shares of the company’s stock valued at $2,563,000 after buying an additional 1,696 shares in the last quarter.
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 loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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