Texas Capital Bancshares Inc. (TCBI) Sees Large Volume Increase
Shares of Texas Capital Bancshares Inc. (NASDAQ:TCBI) saw unusually-strong trading volume on Tuesday . Approximately 307,984 shares traded hands 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.
A number of equities research analysts recently issued reports on TCBI shares. Hovde Group raised Texas Capital Bancshares from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $41.00 to $44.00 in a research note on Wednesday, May 11th. Deutsche Bank AG reissued a “buy” rating and set a $53.00 price target on shares of Texas Capital Bancshares in a research note on Sunday, May 22nd. Raymond James Financial Inc. raised Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating in a research note on Monday, May 9th. TheStreet raised Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, June 23rd. Finally, Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $50.82.
The company has a 50-day moving average of $49.10 and a 200-day moving average of $43.52. The company has a market capitalization of $2.35 billion and a PE ratio of 18.91.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. During the same period in the previous year, the business earned $0.76 earnings per share. On average, equities research analysts anticipate that Texas Capital Bancshares Inc. will post $2.98 earnings per share for the current year.
An institutional investor recently raised its position in Texas Capital Bancshares stock. Dimensional Fund Advisors LP raised its stake in Texas Capital Bancshares Inc. (NASDAQ:TCBI) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,358,660 shares of the company’s stock after buying an additional 66,701 shares during the period. Dimensional Fund Advisors LP owned approximately 2.96% of Texas Capital Bancshares worth $67,145,000 as of its most recent SEC filing.
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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