Texas Capital Bancshares (NASDAQ:TCBI)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a report released on Thursday. They presently have a $103.00 price target on the bank’s stock. Jefferies Group’s price objective suggests a potential upside of 7.12% from the company’s previous close. Jefferies Group also issued estimates for Texas Capital Bancshares’ Q2 2018 earnings at $1.59 EPS, Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.40 EPS and FY2019 earnings at $7.00 EPS.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Tuesday, December 26th. Wedbush raised Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and cut their target price for the company from $108.00 to $87.00 in a research report on Thursday, December 21st. Piper Jaffray reissued a “hold” rating and issued a $98.50 target price on shares of Texas Capital Bancshares in a research report on Tuesday, January 9th. Raymond James raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, January 25th. Finally, Barclays upped their target price on Texas Capital Bancshares from $87.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $98.68.
NASDAQ TCBI opened at $96.15 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 1.28. Texas Capital Bancshares has a 1 year low of $69.65 and a 1 year high of $102.90. The firm has a market capitalization of $4,462.05, a P/E ratio of 23.57, a PEG ratio of 1.23 and a beta of 1.78.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, April 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. Texas Capital Bancshares had a return on equity of 12.18% and a net margin of 22.07%. The firm had revenue of $230.25 million for the quarter, compared to the consensus estimate of $225.43 million. During the same period in the prior year, the firm earned $0.80 EPS. analysts expect that Texas Capital Bancshares will post 6.11 earnings per share for the current fiscal year.
In related news, CEO C Keith Cargill purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $90.60 per share, with a total value of $181,200.00. Following the transaction, the chief executive officer now owns 82,286 shares of the company’s stock, valued at $7,455,111.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian J. Turpin sold 1,186 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $89.55, for a total value of $106,206.30. Following the sale, the director now directly owns 9,491 shares in the company, valued at $849,919.05. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in Texas Capital Bancshares by 1.2% during the 4th quarter. BlackRock Inc. now owns 5,308,145 shares of the bank’s stock worth $471,894,000 after purchasing an additional 63,941 shares during the period. Bank of New York Mellon Corp grew its position in shares of Texas Capital Bancshares by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,204,593 shares of the bank’s stock valued at $107,088,000 after acquiring an additional 55,390 shares during the period. Eagle Asset Management Inc. grew its position in shares of Texas Capital Bancshares by 8.6% during the 4th quarter. Eagle Asset Management Inc. now owns 843,181 shares of the bank’s stock valued at $75,159,000 after acquiring an additional 67,020 shares during the period. Channing Capital Management LLC grew its position in shares of Texas Capital Bancshares by 3.7% during the 4th quarter. Channing Capital Management LLC now owns 767,180 shares of the bank’s stock valued at $68,202,000 after acquiring an additional 27,224 shares during the period. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $42,292,000.
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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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