Texas Capital Bancshares Inc. (TCBI) Sees Strong Trading Volume
Texas Capital Bancshares Inc. (NASDAQ:TCBI) saw unusually-strong trading volume on Tuesday . Approximately 307,984 shares were traded during trading, a decline of 9% from the previous session’s volume of 337,516 shares.The stock last traded at $50.97 and had previously closed at $50.86.
Several equities research analysts recently weighed in on TCBI shares. Citigroup Inc. cut Texas Capital Bancshares to an “outperform” rating and boosted their target price for the stock from $52.00 to $54.00 in a research note on Thursday, July 21st. Deutsche Bank AG restated a “buy” rating and set a $53.00 target price on shares of Texas Capital Bancshares in a research note on Sunday, May 22nd. Zacks Investment Research upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Hovde Group upgraded Texas Capital Bancshares from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $41.00 to $44.00 in a research note on Wednesday, May 11th. Finally, Raymond James Financial Inc. upgraded Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating in a research note on Monday, May 9th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.82.
The firm has a market cap of $2.34 billion and a PE ratio of 18.82. The firm has a 50-day moving average price of $48.89 and a 200 day moving average price of $43.47.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 20th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. During the same period last year, the firm earned $0.76 earnings per share. On average, equities research analysts expect that Texas Capital Bancshares Inc. will post $2.98 EPS for the current fiscal year.
A hedge fund recently raised its stake in Texas Capital Bancshares stock. Principal Financial Group Inc. raised its stake in shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 308,054 shares of the company’s stock after buying an additional 11,109 shares during the period. Principal Financial Group Inc. owned 0.67% of Texas Capital Bancshares worth $15,224,000 at the end of the most recent 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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