Brokerages Set Texas Capital Bancshares Inc (TCBI) Price Target at $94.80
Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) have been given an average rating of “Hold” by the twenty-one ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $92.00.
A number of equities analysts have commented on TCBI shares. BidaskClub downgraded shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Tuesday, September 18th. ValuEngine downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Barclays dropped their price objective on shares of Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. Finally, Wedbush set a $94.00 price objective on shares of Texas Capital Bancshares and gave the company a “buy” rating in a research note on Thursday, October 18th.
In related news, insider Vince A. Ackerson purchased 2,000 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was acquired at an average price of $67.00 per share, with a total value of $134,000.00. Following the completion of the acquisition, the insider now owns 28,485 shares in the company, valued at approximately $1,908,495. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the acquisition, the chief executive officer now owns 90,880 shares of the company’s stock, valued at approximately $6,142,579.20. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
NASDAQ:TCBI traded up $0.37 during mid-day trading on Friday, hitting $54.20. 546,779 shares of the stock traded hands, compared to its average volume of 739,722. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.79 and a beta of 1.75. Texas Capital Bancshares has a 52 week low of $47.86 and a 52 week high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, October 17th. The bank reported $1.65 EPS for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.07). The company had revenue of $257.69 million during the quarter, compared to the consensus estimate of $257.14 million. Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. During the same quarter in the prior year, the company earned $1.12 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares will post 6 EPS for the current fiscal year.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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