Texas Capital Bancshares Inc. (NASDAQ:TCBI) had its price target lifted by Barclays PLC from $52.00 to $58.00 in a research note issued to investors on Tuesday. The brokerage currently has an equal weight rating on the stock.
Several other research analysts have also weighed in on TCBI. Zacks Investment Research raised Texas Capital Bancshares from a sell rating to a hold rating in a research report on Friday, July 1st. TheStreet lowered Texas Capital Bancshares from a buy rating to a hold rating in a report on Tuesday, August 2nd. Deutsche Bank AG reissued a buy rating and set a $53.00 price objective on shares of Texas Capital Bancshares in a report on Friday, June 17th. Raymond James Financial Inc. reissued an outperform rating and set a $54.00 price objective (up previously from $52.00) on shares of Texas Capital Bancshares in a report on Thursday, July 21st. Finally, Compass Point started coverage on Texas Capital Bancshares in a report on Friday, July 1st. They set a buy rating and a $54.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $52.50.
Texas Capital Bancshares (NASDAQ:TCBI) opened at 55.45 on Tuesday. The firm has a 50 day moving average price of $53.77 and a 200-day moving average price of $48.03. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 20.46 and a beta of 1.47. Texas Capital Bancshares has a 12 month low of $29.78 and a 12 month high of $61.83.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 19.73%. During the same period last year, the company posted $0.76 EPS. On average, equities analysts forecast that Texas Capital Bancshares will post $2.99 EPS for the current year.
In related news, Director James H. Browning sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $52.55, for a total transaction of $131,375.00. Following the completion of the sale, the director now directly owns 8,314 shares of the company’s stock, valued at approximately $436,900.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Daruma Capital Management LLC boosted its stake in Texas Capital Bancshares by 4.6% in the first quarter. Daruma Capital Management LLC now owns 1,108,798 shares of the company’s stock worth $42,556,000 after buying an additional 48,937 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Texas Capital Bancshares by 6.0% in the first quarter. Panagora Asset Management Inc. now owns 138,241 shares of the company’s stock worth $5,306,000 after buying an additional 7,769 shares in the last quarter. Aristotle Capital Boston LLC boosted its stake in Texas Capital Bancshares by 1.8% in the first quarter. Aristotle Capital Boston LLC now owns 27,035 shares of the company’s stock worth $1,038,000 after buying an additional 482 shares in the last quarter. Granahan Investment Management Inc. MA boosted its stake in Texas Capital Bancshares by 220.5% in the first quarter. Granahan Investment Management Inc. MA now owns 148,400 shares of the company’s stock worth $5,696,000 after buying an additional 102,100 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Texas Capital Bancshares by 7.6% in the first quarter. Wellington Management Group LLP now owns 404,210 shares of the company’s stock worth $15,513,000 after buying an additional 28,632 shares in the last quarter.
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 loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.
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