Texas Capital Bancshares (NASDAQ:TCBI) had its price objective cut by investment analysts at Wedbush from $93.00 to $84.00 in a research report issued on Thursday, MarketBeat reports. The brokerage currently has an “outperform” rating on the bank’s stock. Wedbush’s price objective would indicate a potential upside of 50.43% from the company’s current price.
A number of other equities research analysts have also recently commented on the company. TheStreet cut Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Tuesday, November 20th. Compass Point raised Texas Capital Bancshares to a “buy” rating and reduced their price target for the stock from $103.00 to $84.00 in a research note on Thursday, November 15th. UBS Group raised Texas Capital Bancshares from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $76.00 to $70.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Finally, ValuEngine lowered Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $96.24.
Shares of NASDAQ:TCBI opened at $55.84 on Thursday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.90 and a beta of 1.82. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29. Texas Capital Bancshares has a one year low of $53.96 and a one year high of $103.05.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 17th. The bank reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.07). The company had revenue of $257.69 million for the quarter, compared to analyst estimates of $257.14 million. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. During the same quarter last year, the company posted $1.12 EPS. As a group, equities research analysts forecast that Texas Capital Bancshares will post 6.01 earnings per share for the current year.
In other news, insider Vince A. Ackerson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 19th. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $134,000.00. Following the completion of the purchase, the insider now owns 28,485 shares of the company’s stock, valued at $1,908,495. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, October 19th. The stock was purchased at an average price of $67.59 per share, with a total value of $202,770.00. Following the completion of the purchase, the chief executive officer now directly 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. 0.48% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Texas Capital Bancshares by 2.6% in the third quarter. Vanguard Group Inc. now owns 4,540,983 shares of the bank’s stock valued at $375,312,000 after acquiring an additional 114,580 shares during the period. BlackRock Inc. boosted its stake in Texas Capital Bancshares by 0.9% in the third quarter. BlackRock Inc. now owns 4,423,563 shares of the bank’s stock valued at $365,607,000 after acquiring an additional 37,705 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Texas Capital Bancshares by 31.2% during the third quarter. Alliancebernstein L.P. now owns 1,586,926 shares of the bank’s stock valued at $131,159,000 after buying an additional 377,750 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Texas Capital Bancshares by 1.0% during the third quarter. American Century Companies Inc. now owns 1,515,412 shares of the bank’s stock valued at $125,249,000 after buying an additional 14,507 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Texas Capital Bancshares by 8,258.2% during the second quarter. Millennium Management LLC now owns 1,371,662 shares of the bank’s stock valued at $125,507,000 after buying an additional 1,355,251 shares during the last quarter.
Texas Capital Bancshares Company Profile
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.
Featured Story: What are municipal bonds?
Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.