Texas Capital Bancshares Inc. (TCBI) Shares Up 1.8%
Texas Capital Bancshares Inc. (NASDAQ:TCBI)’s share price shot up 1.8% during mid-day trading on Wednesday . The company traded as high as $51.47 and last traded at $51.35, with a volume of 115,320 shares. The stock had previously closed at $50.42.
A number of brokerages have recently issued reports on TCBI. Hovde Group reaffirmed a “sell” rating on shares of Texas Capital Bancshares in a research report on Saturday, April 23rd. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $50.00 price target on shares of Texas Capital Bancshares in a research report on Thursday, April 21st. TheStreet downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and set a $46.00 price target (up from $37.00) on shares of Texas Capital Bancshares in a research report on Thursday, April 21st. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $50.82.
The stock has a market cap of $2.33 billion and a price-to-earnings ratio of 18.74. The stock has a 50 day moving average of $48.19 and a 200-day moving average of $42.87.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, equities research analysts predict that Texas Capital Bancshares Inc. will post $2.98 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in TCBI. State of Tennessee Treasury Department purchased a new stake in Texas Capital Bancshares during the fourth quarter valued at about $1,759,000. Principal Financial Group Inc. boosted its stake 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 during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 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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