Texas Capital Bancshares Inc. (TCBI) Trading Down 2.8%
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) fell 2.8% during trading on Friday . The company traded as low as $48.38 and last traded at $48.54, with a volume of 250,505 shares traded. The stock had previously closed at $49.96.
A number of research firms have recently commented on TCBI. Hovde Group reissued a “sell” rating on shares of Texas Capital Bancshares in a research note on Saturday, April 23rd. Zacks Investment Research raised Texas Capital Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, April 25th. FIG Partners reissued 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 boosted their price objective for the stock from $52.00 to $54.00 in a research note on Thursday, July 21st. Finally, Compass Point began coverage on Texas Capital Bancshares in a research note on Friday, July 1st. They issued a “buy” rating and a $54.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.82.
The company’s 50-day moving average price is $47.60 and its 200 day moving average price is $41.80. The stock has a market cap of $2.23 billion and a PE ratio of 17.91.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. During the same period in the prior year, the business earned $0.76 earnings per share. Analysts forecast that Texas Capital Bancshares Inc. will post $2.99 EPS for the current fiscal year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Texas Capital Bancshares by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,358,660 shares of the company’s stock valued at $67,145,000 after buying an additional 66,701 shares in the last quarter. Hodges Capital Management Inc. raised its position in Texas Capital Bancshares by 14.2% in the fourth quarter. Hodges Capital Management Inc. now owns 378,204 shares of the company’s stock valued at $18,691,000 after buying an additional 46,903 shares in the last quarter. State of Tennessee Treasury Department bought a new position in Texas Capital Bancshares during the fourth quarter valued at about $1,759,000. Principal Financial Group Inc. raised its position in Texas Capital Bancshares by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 308,054 shares of the company’s stock valued at $15,224,000 after buying an additional 11,109 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Texas Capital Bancshares by 4.5% in the fourth quarter. Rhumbline Advisers now owns 85,774 shares of the company’s stock valued at $4,239,000 after buying an additional 3,715 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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