Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) received an average rating of “Hold” from the nine research firms that currently cover the company, MarketBeat.com reports. Two research analysts rated the stock with a sell rating, one issued a hold rating, one assigned a buy rating and one issued a strong buy rating on the company. The 1-year average price target among brokers who have reported on the stock in the past year is $62.29.
Several stock analysts weighed in on TCBI shares. Royal Bank of Canada raised its price target on shares of Texas Capital Bancshares from $59.00 to $62.00 and gave the company an “sector performance” rating in a Monday, September 12 report. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Saturday, July 30, report. Bank of America downgraded shares of Texas Capital Bancshares from a “neutral” rating to an “underperforming” rating and reduced its price target for the stock from $57.00 to $55.00 in a note. research on Thursday, September 8. Wedbush raised its price target on Texas Capital Bancshares to $60.00 in a Monday, July 25 research report. Finally, Stephens raised his price target on shares of Texas Capital Bancshares to $66.00 in a Friday, July 22 report.
Texas Capital Banc shares trade up 0.4%
The NASDAQ TCBI opened at $62.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a leverage ratio of 0.34. The stock’s 50-day moving average is $59.40 and its 200-day moving average is $56.86. Texas Capital Bancshares has a 12-month low of $48.79 and a 12-month high of $71.60. The company has a market capitalization of $3.11 billion, a PE ratio of 19.31, a P/E/G ratio of 2.27 and a beta of 1.50.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last announced its quarterly results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.59 for the quarter, missing analyst consensus estimates of $0.74 per ($0.15). Texas Capital Bancshares had a net margin of 18.42% and a return on equity of 6.48%. During the same period of the previous year, the company achieved EPS of $1.31. Research analysts expect Texas Capital Bancshares to post earnings per share of 3.42 for the current fiscal year.
Insider Buying and Selling at Texas Capital Bancshares
In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 8,000 shares of Texas Capital Bancshares in a trade on Tuesday August 16th. The shares were purchased at an average price of $65.35 per share, for a total transaction of $522,800.00. Following completion of the transaction, the director now directly owns 146,000 shares of the company, valued at $9,541,100. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, director Robert W. Stallings bought 8,000 shares of the company in a trade on Tuesday, August 16. The shares were purchased at an average price of $65.35 per share, for a total transaction of $522,800.00. Following the acquisition, the administrator now directly owns 146,000 shares of the company, valued at $9,541,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Robert W. Stallings purchased 2,275 shares of the company in a trade on Tuesday, August 2. The shares were purchased at an average price of $58.84 per share, for a total transaction of $133,861.00. Following the acquisition, the administrator now owns 138,000 shares of the company, valued at $8,119,920. Disclosure of this purchase can be found here. Insiders acquired 57,805 shares of the company worth $3,230,924 during the last quarter. 0.56% of the shares are currently held by insiders of the company.
Institutional investors weigh in on shares of Texas Capital Bancshares
Large investors have recently changed their stock holdings. State Street Corp increased its stake in shares of Texas Capital Bancshares by 5.1% during the 1st quarter. State Street Corp now owns 3,268,391 shares of the bank worth $187,311,000 after purchasing an additional 158,815 shares during the period. Dimensional Fund Advisors LP increased its stake in Texas Capital Bancshares by 2.8% in Q1. Dimensional Fund Advisors LP now owns 2,582,769 shares of the bank valued at $148,023,000 after buying an additional 70,042 shares last quarter. Price T Rowe Associates Inc. MD increased its stake in Texas Capital Bancshares by 68.6% in Q2. Price T Rowe Associates Inc. MD now owns 2,278,954 shares of the bank valued at $119,964,000 after buying 927,419 additional shares last quarter. JPMorgan Chase & Co. increased its holdings in Texas Capital Bancshares by 1,374.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank valued at $91,473,000 after buying an additional 1,415,279 shares last quarter. Finally, Geode Capital Management LLC increased its stake in Texas Capital Bancshares by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 955,916 shares of the bank valued at $57,593,000 after purchasing an additional 88,596 shares last quarter. Hedge funds and other institutional investors hold 99.44% of the company’s shares.
About Texas Capital Bancshares
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Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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