Piper Jaffray Companies Equities Analysts Cut Earnings Estimates for Texas Capital Bancshares Inc (TCBI)

Texas Capital Bancshares Inc (NASDAQ:TCBI) – Stock analysts at Piper Jaffray Companies decreased their FY2020 earnings estimates for Texas Capital Bancshares in a report released on Wednesday, January 9th. Piper Jaffray Companies analyst B. Rabatin now forecasts that the bank will earn $6.53 per share for the year, down from their prior estimate of $7.27.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data 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). Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. The firm had revenue of $257.69 million during the quarter, compared to analysts’ expectations of $257.14 million. During the same quarter last year, the business earned $1.12 earnings per share.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Jefferies Financial Group downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised Texas Capital Bancshares from an “equal weight” rating to an “overweight” rating and set a $70.00 price target for the company in a research note on Thursday. Stephens reaffirmed a “hold” rating and set a $59.00 price target on shares of Texas Capital Bancshares in a research note on Wednesday, December 19th. Finally, Raymond James cut their price target on Texas Capital Bancshares from $105.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, October 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Texas Capital Bancshares has a consensus rating of “Hold” and a consensus price target of $93.41.

NASDAQ:TCBI opened at $53.83 on Friday. Texas Capital Bancshares has a 1-year low of $47.86 and a 1-year high of $103.05. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29. The firm has a market capitalization of $2.70 billion, a P/E ratio of 13.19, a PEG ratio of 0.79 and a beta of 1.75.

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Texas Capital Bancshares by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,540,983 shares of the bank’s stock worth $375,312,000 after acquiring an additional 114,580 shares during the period. Vanguard Group Inc boosted its holdings in Texas Capital Bancshares by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 4,540,983 shares of the bank’s stock worth $375,312,000 after acquiring an additional 114,580 shares during the period. BlackRock Inc. boosted its holdings in Texas Capital Bancshares by 0.9% in the 3rd quarter. BlackRock Inc. now owns 4,423,563 shares of the bank’s stock worth $365,607,000 after acquiring an additional 37,705 shares during the period. Alliancebernstein L.P. boosted its holdings in Texas Capital Bancshares by 31.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,586,926 shares of the bank’s stock worth $131,159,000 after acquiring an additional 377,750 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Texas Capital Bancshares by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 1,515,412 shares of the bank’s stock worth $125,249,000 after acquiring an additional 14,507 shares during the period.

In related news, insider Vince A. Ackerson acquired 2,000 shares of the company’s stock in a transaction dated Friday, October 19th. The stock was bought at an average price of $67.00 per share, with a total value of $134,000.00. Following the purchase, the insider now directly owns 28,485 shares in the company, valued at approximately $1,908,495. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction dated Friday, October 19th. The shares were purchased at an average price of $67.59 per share, with a total value of $202,770.00. Following the acquisition, the chief executive officer now directly owns 90,880 shares in the company, valued at approximately $6,142,579.20. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

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.

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Earnings History and Estimates for Texas Capital Bancshares (NASDAQ:TCBI)

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