Texas Capital Bancshares Inc. (TCBI) Shares Gap Up to $48.98
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) gapped up prior to trading on Thursday . The stock had previously closed at $48.35, but opened at $48.98. Texas Capital Bancshares shares last traded at $50.18, with a volume of 268,025 shares.
TCBI has been the subject of several analyst reports. Hovde Group raised Texas Capital Bancshares from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $41.00 to $44.00 in a research note on Wednesday, May 11th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $50.00 target price on shares of Texas Capital Bancshares in a report on Thursday, April 21st. SunTrust Banks Inc. upped their target price on Texas Capital Bancshares from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, March 28th. FBR & Co reduced their target price on Texas Capital Bancshares from $67.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, March 28th. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Texas Capital Bancshares in a report on Monday, April 4th. Fourteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $52.76.
The firm has a market cap of $2.28 billion and a P/E ratio of 18.42. The stock has a 50 day moving average price of $47.77 and a 200 day moving average price of $41.61.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.18. During the same period in the prior year, the firm posted $0.70 EPS. Analysts expect that Texas Capital Bancshares Inc. will post $2.90 EPS for the current fiscal year.
In related news, Director Steve Rosenberg sold 982 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $45.09, for a total value of $44,278.38. Following the completion of the transaction, the director now directly owns 44,291 shares in the company, valued at approximately $1,997,081.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of large investors recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in Texas Capital Bancshares by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 113,700 shares of the company’s stock worth $5,619,000 after buying an additional 1,000 shares during the period. California State Teachers Retirement System increased its stake in Texas Capital Bancshares by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 84,802 shares of the company’s stock worth $4,191,000 after buying an additional 1,300 shares during the period. Comerica Bank increased its stake in Texas Capital Bancshares by 3.0% in the fourth quarter. Comerica Bank now owns 57,633 shares of the company’s stock worth $2,563,000 after buying an additional 1,696 shares during the period. TD Asset Management Inc. increased its stake in Texas Capital Bancshares by 9.0% in the fourth quarter. TD Asset Management Inc. now owns 20,520 shares of the company’s stock worth $1,014,000 after buying an additional 1,700 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in Texas Capital Bancshares by 1.0% in the fourth quarter. State of Wisconsin Investment Board now owns 304,455 shares of the company’s stock worth $15,046,000 after buying an additional 2,974 shares during the period.
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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