Texas Capital Bancshares Inc (NASDAQ:TCBI) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, May 8th. The brokerage presently has a $86.00 price objective on the bank’s stock, up from their prior price objective of $79.00. Wedbush’s target price indicates a potential upside of 14.13% from the stock’s previous close.
A number of other research firms have also commented on TCBI. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Raymond James Financial, Inc. raised shares of Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research note on Thursday, April 6th. Barclays PLC reaffirmed a “hold” rating and issued a $75.00 price objective (down previously from $78.00) on shares of Texas Capital Bancshares in a research note on Friday, April 21st. JMP Securities started coverage on shares of Texas Capital Bancshares in a research note on Thursday, February 2nd. They issued an “outperform” rating and a $98.00 price objective for the company. Finally, Keefe, Bruyette & Woods set a $83.00 price objective on shares of Texas Capital Bancshares and gave the stock a “hold” rating in a research note on Monday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $81.00.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by $0.08. The business had revenue of $180.47 million during the quarter, compared to analyst estimates of $192.60 million. Texas Capital Bancshares had a return on equity of 9.94% and a net margin of 19.98%. During the same quarter last year, the firm posted $0.49 EPS.
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In other Texas Capital Bancshares news, insider C Keith Cargill purchased 5,000 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were acquired at an average price of $73.57 per share, for a total transaction of $367,850.00. Following the acquisition, the insider now owns 77,286 shares of the company’s stock, valued at $5,685,931.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian J. Turpin sold 2,507 shares of the firm’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $73.59, for a total transaction of $184,490.13. Following the transaction, the director now owns 9,991 shares in the company, valued at approximately $735,237.69. The disclosure for this sale can be found here. 1.08% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCBI. Federated Investors Inc. PA acquired a new position in Texas Capital Bancshares during the fourth quarter worth $128,000. Canada Pension Plan Investment Board increased its position in Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after buying an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock worth $148,000 after buying an additional 563 shares in the last quarter. Tyers Asset Management LLC purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $180,000. Finally, Parkwood LLC purchased a new position in shares of Texas Capital Bancshares during the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 95.46% of the company’s stock.
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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