Recent Research Analysts’ Ratings Changes for Texas Capital Bancshares (TCBI)

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A number of firms have modified their ratings and price targets on shares of Texas Capital Bancshares (NASDAQ: TCBI) recently:

  • 4/13/2019 – Texas Capital Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Texas Capital have underperformed the industry over the past six months. The company has a disappointing earnings surprise history, beating the Zacks Consensus Estimate in only one of the trailing four quarters. Further, earnings estimates have been going down ahead of the company's first quarter 2019 results. The company’s persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth to some extent. Moreover, lack of geographical diversification remains a concern. However, growth in revenues and favorable interest rates are likely to support the company. Also, the company’s diversified fee income sources, along with rising loans and deposits balances are likely to drive top-line growth.”
  • 4/2/2019 – Texas Capital Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Texas Capital has a disappointing earnings surprise history, beating the Zacks Consensus Estimate in only one of the trailing four quarters. The company’s persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth to some extent. Though the company’s diversified fee income sources, along with rising loans and deposits balances are likely to drive top-line growth, lack of geographical diversification remains a concern.”
  • 3/27/2019 – Texas Capital Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Texas Capital have underperformed the industry over the last three months. Further, the company has a disappointing earnings surprise history, beating the Zacks Consensus Estimate in only one of the trailing four quarters. The company’s persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth to some extent. Though the company’s diversified fee income sources are likely to continue driving its top-line growth along with rising loans and deposits balances,  lack of diversification remains a headwind for Texas Capital.”
  • 3/27/2019 – Texas Capital Bancshares was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $65.00 price target on the stock.

NASDAQ:TCBI traded down $1.19 on Monday, hitting $58.03. 58,760 shares of the company’s stock traded hands, compared to its average volume of 883,302. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.32 and a quick ratio of 1.23. Texas Capital Bancshares Inc has a 1 year low of $47.86 and a 1 year high of $103.05. The stock has a market cap of $2.96 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.77.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, January 23rd. The bank reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.21). The business had revenue of $255.95 million for the quarter, compared to analyst estimates of $253.17 million. Texas Capital Bancshares had a return on equity of 13.35% and a net margin of 24.02%. During the same quarter last year, the firm earned $1.19 earnings per share. On average, equities research analysts anticipate that Texas Capital Bancshares Inc will post 6.24 earnings per share for the current year.

In other news, Director Ian J. Turpin sold 1,294 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $60.72, for a total transaction of $78,571.68. Following the transaction, the director now owns 8,102 shares of the company’s stock, valued at $491,953.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steve Rosenberg sold 2,305 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $61.31, for a total value of $141,319.55. Following the transaction, the director now directly owns 35,008 shares in the company, valued at approximately $2,146,340.48. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP lifted its stake in Texas Capital Bancshares by 2,986.2% in the fourth quarter. Two Sigma Investments LP now owns 695,098 shares of the bank’s stock valued at $35,513,000 after buying an additional 672,575 shares during the period. Frontier Capital Management Co. LLC increased its holdings in Texas Capital Bancshares by 109.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,036,454 shares of the bank’s stock worth $52,952,000 after purchasing an additional 542,759 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $24,228,000. Two Sigma Advisers LP bought a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $21,453,000. Finally, Basswood Capital Management L.L.C. bought a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $18,753,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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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