Texas Capital Bancshares (TCBI) Price Target Cut to $90.00 by Analysts at Royal Bank of Canada

Texas Capital Bancshares (NASDAQ:TCBI) had its price objective trimmed by Royal Bank of Canada to $90.00 in a report issued on Thursday morning, The Fly reports. The firm currently has a sector perform rating on the bank’s stock.

Other analysts have also recently issued research reports about the company. BidaskClub cut Texas Capital Bancshares from a sell rating to a strong sell rating in a research report on Saturday, July 28th. Sandler O’Neill reiterated a hold rating and set a $103.00 target price on shares of Texas Capital Bancshares in a research report on Friday, July 20th. Wedbush set a $94.00 target price on Texas Capital Bancshares and gave the stock a buy rating in a research report on Thursday. Zacks Investment Research cut Texas Capital Bancshares from a buy rating to a hold rating in a research report on Friday, June 22nd. Finally, SunTrust Banks reiterated a buy rating on shares of Texas Capital Bancshares in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $99.47.

Shares of NASDAQ:TCBI traded down $0.36 during trading on Thursday, hitting $66.92. 25,958 shares of the company’s stock were exchanged, compared to its average volume of 529,941. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 2.00. Texas Capital Bancshares has a 52-week low of $67.24 and a 52-week high of $103.05. The stock has a market capitalization of $3.87 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.11 and a beta of 1.77.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, October 17th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.07). Texas Capital Bancshares had a return on equity of 13.60% and a net margin of 23.10%. The business had revenue of $257.69 million for the quarter, compared to analysts’ expectations of $257.14 million. During the same quarter in the prior year, the business posted $1.12 EPS. On average, research analysts predict that Texas Capital Bancshares will post 6.11 earnings per share for the current fiscal year.

In other news, CEO C Keith Cargill purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the completion of the purchase, the chief executive officer now owns 90,880 shares in the company, valued at $6,142,579.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian J. Turpin sold 5,320 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $93.06, for a total value of $495,079.20. Following the transaction, the director now directly owns 8,602 shares of the company’s stock, valued at $800,502.12. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in TCBI. Millennium Management LLC lifted its stake in shares of Texas Capital Bancshares by 8,258.2% in the 2nd quarter. Millennium Management LLC now owns 1,371,662 shares of the bank’s stock valued at $125,507,000 after purchasing an additional 1,355,251 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in shares of Texas Capital Bancshares by 64.8% in the 2nd quarter. Standard Life Aberdeen plc now owns 471,594 shares of the bank’s stock valued at $43,162,000 after purchasing an additional 185,407 shares during the last quarter. Paloma Partners Management Co lifted its stake in shares of Texas Capital Bancshares by 2,149.6% in the 2nd quarter. Paloma Partners Management Co now owns 149,169 shares of the bank’s stock valued at $13,649,000 after purchasing an additional 142,538 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of Texas Capital Bancshares by 31.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 513,791 shares of the bank’s stock valued at $47,012,000 after purchasing an additional 121,624 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Texas Capital Bancshares by 3,729.3% in the 2nd quarter. WINTON GROUP Ltd now owns 106,378 shares of the bank’s stock valued at $9,734,000 after purchasing an additional 103,600 shares during the last quarter.

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.

Further Reading: Ex-Dividend

The Fly

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