Texas Capital Bancshares, Inc. (NASDAQ:TCBI) had its price target upped by Deutsche Bank AG from $93.00 to $95.00 in a report released on Wednesday. The brokerage currently has a hold rating on the bank’s stock.
TCBI has been the topic of several other research reports. Royal Bank Of Canada restated a buy rating on shares of Texas Capital Bancshares in a report on Friday, October 20th. DA Davidson reiterated a neutral rating and issued a $90.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, October 19th. Zacks Investment Research upgraded Texas Capital Bancshares from a hold rating to a buy rating and set a $87.00 target price on the stock in a research report on Tuesday, July 11th. SunTrust Banks, Inc. reiterated a buy rating and issued a $90.00 target price on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Finally, Wedbush lowered Texas Capital Bancshares from an outperform rating to a neutral rating and dropped their target price for the company from $88.00 to $87.00 in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $91.53.
Shares of Texas Capital Bancshares (TCBI) traded up $0.55 during trading on Wednesday, reaching $80.95. 398,600 shares of the company’s stock were exchanged, compared to its average volume of 337,595. The company has a market capitalization of $4,017.31, a P/E ratio of 21.03, a PEG ratio of 1.67 and a beta of 1.67. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.22. Texas Capital Bancshares has a fifty-two week low of $63.90 and a fifty-two week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $214.08 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. equities research analysts predict that Texas Capital Bancshares will post 4.04 EPS for the current year.
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In other news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $87.52, for a total transaction of $306,320.00. Following the transaction, the chief operating officer now owns 34,171 shares in the company, valued at approximately $2,990,645.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Texas Capital Bancshares in the 3rd quarter valued at $101,000. Exane Derivatives acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Texas Capital Bancshares by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after purchasing an additional 248 shares during the last quarter. Hilton Capital Management LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $201,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Texas Capital Bancshares in the 2nd quarter valued at $201,000. 99.81% of the stock is owned by hedge funds and other institutional investors.
About Texas Capital Bancshares
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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