Texas Capital Bancshares, Inc. (TCBI) Stock Rating Upgraded by Zacks Investment Research
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $90.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.69% from the stock’s previous close.
According to Zacks, “Shares of Texas Capital have outperformed the industry so far this year. This price performance is backed by the company’s decent earnings surprise history. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company’s diversified fee income sources should continue driving its top-line growth. Moreover, Texas Capital’s strong capital position keep it well poised for opportunistic expansions. Though, lack of geographical diversification and significantly mounting expenses keep us apprehensive, Texas Capital’s margins have relaxed to some extent, following the three rate hikes since December 2016.”
TCBI has been the subject of several other reports. BidaskClub downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Stephens reiterated a “hold” rating and set a $84.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. Piper Jaffray Companies reiterated a “hold” rating and set a $86.00 target price on shares of Texas Capital Bancshares in a research report on Friday, September 1st. Royal Bank Of Canada started coverage on Texas Capital Bancshares in a research report on Wednesday, September 6th. They set an “outperform” rating and a $90.00 target price for the company. Finally, ValuEngine downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $87.07.
Texas Capital Bancshares (TCBI) opened at 82.05 on Tuesday. The firm’s 50-day moving average is $75.53 and its 200-day moving average is $77.98. Texas Capital Bancshares has a 12 month low of $51.95 and a 12 month high of $93.35. The stock has a market capitalization of $4.07 billion, a P/E ratio of 22.77 and a beta of 1.67.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The business had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. During the same period last year, the company earned $0.78 earnings per share. On average, equities analysts expect that Texas Capital Bancshares will post $4.01 earnings per share for the current fiscal year.
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In related news, insider C Keith Cargill bought 3,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Miles Capital Inc. grew its stake in Texas Capital Bancshares by 0.4% in the first quarter. Miles Capital Inc. now owns 3,141 shares of the bank’s stock valued at $262,000 after purchasing an additional 13 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Texas Capital Bancshares by 0.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,170 shares of the bank’s stock valued at $932,000 after purchasing an additional 60 shares during the last quarter. World Asset Management Inc grew its stake in Texas Capital Bancshares by 2.1% in the second quarter. World Asset Management Inc now owns 3,134 shares of the bank’s stock valued at $243,000 after purchasing an additional 64 shares during the last quarter. 1st Global Advisors Inc. grew its stake in Texas Capital Bancshares by 1.1% in the second quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock valued at $540,000 after purchasing an additional 77 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Texas Capital Bancshares by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 12,865 shares of the bank’s stock valued at $1,074,000 after purchasing an additional 85 shares during the last quarter.
Texas Capital Bancshares Company Profile
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 loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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