Texas Capital Bancshares, Inc. (NASDAQ:TCBI) released its earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01, Briefing.com reports. The company had revenue of $204.40 million during the quarter, compared to the consensus estimate of $214.08 million. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share.
Shares of Texas Capital Bancshares (TCBI) traded up 0.34% during trading on Friday, hitting $87.85. The stock had a trading volume of 450,367 shares. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 24.38 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 company’s 50 day moving average price is $82.56 and its 200 day moving average price is $78.26.
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In other news, COO Peter B. Bartholow sold 3,500 shares of Texas Capital Bancshares stock in a transaction on Friday, October 20th. The shares were 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider C Keith Cargill purchased 3,000 shares of the company’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 purchase, the insider now directly owns 80,286 shares in the company, valued at $5,953,206.90. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.
A number of equities research analysts have recently weighed in on TCBI shares. Zacks Investment Research downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Royal Bank Of Canada restated a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday, October 20th. BidaskClub upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Stephens reiterated a “hold” rating and issued a $84.00 price objective on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Texas Capital Bancshares currently has an average rating of “Hold” and a consensus price target of $89.60.
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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