Texas Capital Bancshares Inc. (NASDAQ:TCBI) had its price objective raised by Deutsche Bank AG from $56.00 to $66.00 in a research report report published on Tuesday. The brokerage currently has a buy rating on the stock.
TCBI has been the topic of a number of other research reports. Wedbush initiated coverage on shares of Texas Capital Bancshares in a research report on Thursday, October 6th. They issued a neutral rating and a $54.00 price objective on the stock. TheStreet raised shares of Texas Capital Bancshares from a hold rating to a buy rating in a research report on Thursday, June 23rd. Zacks Investment Research raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a research report on Friday, July 1st. Raymond James Financial Inc. reaffirmed an outperform rating and issued a $54.00 price objective (up previously from $52.00) on shares of Texas Capital Bancshares in a research report on Thursday, July 21st. Finally, Bank of America Corp. downgraded shares of Texas Capital Bancshares from a buy rating to a neutral rating in a research report on Wednesday, June 29th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $52.50.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) opened at 55.45 on Tuesday. The firm’s 50-day moving average is $53.77 and its 200-day moving average is $48.03. Texas Capital Bancshares has a one year low of $29.78 and a one year high of $61.83. The stock has a market capitalization of $2.55 billion, a PE ratio of 20.46 and a beta of 1.47.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Texas Capital Bancshares had a net margin of 19.73% and a return on equity of 9.14%. During the same period in the prior year, the company posted $0.76 EPS. On average, analysts expect that Texas Capital Bancshares will post $2.99 earnings per share for the current fiscal year.
In related news, Director James H. Browning sold 2,500 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $52.55, for a total value of $131,375.00. Following the completion of the sale, the director now owns 8,314 shares of the company’s stock, valued at approximately $436,900.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Channing Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 101.1% in the second quarter. Channing Capital Management LLC now owns 905,504 shares of the company’s stock valued at $42,341,000 after buying an additional 455,292 shares during the last quarter. State Street Corp raised its stake in Texas Capital Bancshares by 23.4% in the first quarter. State Street Corp now owns 2,231,426 shares of the company’s stock worth $85,639,000 after buying an additional 423,320 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Texas Capital Bancshares by 69.7% in the second quarter. Frontier Capital Management Co. LLC now owns 657,166 shares of the company’s stock worth $30,729,000 after buying an additional 269,946 shares during the last quarter. Prudential Financial Inc. raised its stake in Texas Capital Bancshares by 197.3% in the first quarter. Prudential Financial Inc. now owns 351,732 shares of the company’s stock worth $13,499,000 after buying an additional 233,410 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Texas Capital Bancshares during the second quarter worth about $9,866,000.
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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