Texas Capital Bancshares (TCBI) Stock Rating Lowered by ValuEngine

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

TCBI has been the topic of a number of other reports. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, September 18th. Barclays lowered their target price on shares of Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. BidaskClub downgraded shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. Royal Bank of Canada lowered their target price on shares of Texas Capital Bancshares to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, SunTrust Banks raised their target price on shares of Texas Capital Bancshares to $90.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $99.47.

Shares of TCBI opened at $66.83 on Thursday. The company has a market capitalization of $3.87 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.11 and a beta of 1.77. 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 1-year low of $66.50 and a 1-year high of $103.05.

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

In other Texas Capital Bancshares news, CEO C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction on Friday, October 19th. The shares were purchased 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 of the company’s stock, valued at approximately $6,142,579.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ian J. Turpin sold 5,320 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $93.06, for a total transaction of $495,079.20. Following the transaction, the director now directly owns 8,602 shares in the company, valued at $800,502.12. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in shares of Texas Capital Bancshares by 1.0% during the second quarter. American Century Companies Inc. now owns 1,500,905 shares of the bank’s stock worth $137,333,000 after acquiring an additional 14,263 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Texas Capital Bancshares by 8,258.2% in the second quarter. Millennium Management LLC now owns 1,371,662 shares of the bank’s stock worth $125,507,000 after purchasing an additional 1,355,251 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Texas Capital Bancshares by 8.4% in the second quarter. Eagle Asset Management Inc. now owns 962,355 shares of the bank’s stock worth $88,055,000 after purchasing an additional 74,750 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of Texas Capital Bancshares by 16.9% in the second quarter. Carillon Tower Advisers Inc. now owns 710,637 shares of the bank’s stock worth $65,023,000 after purchasing an additional 102,653 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Texas Capital Bancshares by 17.8% in the second quarter. Bank of America Corp DE now owns 529,538 shares of the bank’s stock worth $48,452,000 after purchasing an additional 80,103 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.

Further Reading: What does the Dow Jones Industrial Average (DJIA) measure?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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.

Leave a Reply