DA Davidson Weighs in on Texas Capital Bancshares, Inc.’s Q4 2017 Earnings (TCBI)
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Research analysts at DA Davidson increased their Q4 2017 earnings estimates for shares of Texas Capital Bancshares in a report released on Thursday. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $1.08 for the quarter, up from their previous forecast of $1.07. DA Davidson has a “Neutral” rating and a $90.00 price objective on the stock. DA Davidson also issued estimates for Texas Capital Bancshares’ Q1 2018 earnings at $1.04 EPS, Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.79 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The firm had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $214.08 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis.
TCBI has been the topic of several other reports. Zacks Investment Research lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Stephens reaffirmed a “hold” rating and set a $84.00 target price on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Royal Bank Of Canada initiated coverage on Texas Capital Bancshares in a report on Wednesday, September 6th. They set an “outperform” rating and a $90.00 target price on the stock. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $90.00 price target on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $89.60.
Texas Capital Bancshares (TCBI) opened at 88.00 on Friday. The stock has a market capitalization of $4.36 billion, a PE ratio of 24.42 and a beta of 1.68. Texas Capital Bancshares has a 52-week low of $56.25 and a 52-week high of $93.35. The stock’s 50 day moving average price is $81.66 and its 200-day moving average price is $78.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Texas Capital Bancshares by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after acquiring an additional 248 shares in the last quarter. Hilton Capital Management LLC purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $201,000. Cubist Systematic Strategies LLC purchased a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $201,000. Finally, D.A. Davidson & CO. lifted its position in shares of Texas Capital Bancshares by 14.3% in the second quarter. D.A. Davidson & CO. now owns 2,632 shares of the bank’s stock valued at $203,000 after acquiring an additional 329 shares in the last quarter.
In other news, insider C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the transaction, the insider now directly owns 80,286 shares in the company, valued at approximately $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.
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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