Texas Capital Bancshares, Inc. (TCBI) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Shares of Texas Capital have outperformed the industry so far this year. This price performance is backed by the company’s decent earnings surprise history. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company’s diversified fee income sources should continue driving its top-line growth. Moreover, Texas Capital’s strong capital position keep it well poised for opportunistic expansions. Though, lack of geographical diversification and significantly mounting expenses keep us apprehensive, Texas Capital’s margins have relaxed to some extent, following the three rate hikes since December 2016.”
A number of other research firms also recently weighed in on TCBI. BidaskClub downgraded shares of Texas Capital Bancshares from a sell rating to a strong sell rating in a research report on Monday, August 14th. ValuEngine raised shares of Texas Capital Bancshares from a hold rating to a buy rating in a research report on Tuesday, June 27th. Stephens reissued a hold rating and set a $84.00 target price on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. Hovde Group increased their target price on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the company a market perform rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a buy rating and set a $104.00 price target on shares of Texas Capital Bancshares in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of Hold and a consensus price target of $87.07.
Shares of Texas Capital Bancshares (TCBI) traded down 0.18% during midday trading on Wednesday, reaching $81.90. 104,967 shares of the company’s stock traded hands. The firm has a market cap of $4.06 billion, a PE ratio of 22.73 and a beta of 1.67. Texas Capital Bancshares has a 12 month low of $51.95 and a 12 month high of $93.35. The stock has a 50-day moving average price of $75.53 and a 200 day moving average price of $77.98.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a net margin of 21.84% and a return on equity of 10.01%. The firm had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. During the same period in the prior year, the firm earned $0.78 EPS. Equities research analysts predict that Texas Capital Bancshares will post $4.01 earnings per share for the current year.
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In other news, insider C Keith Cargill bought 3,000 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $74.15 per share, for a total transaction of $222,450.00. Following the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Miles Capital Inc. lifted its stake in Texas Capital Bancshares by 0.4% in the 1st quarter. Miles Capital Inc. now owns 3,141 shares of the bank’s stock worth $262,000 after purchasing an additional 13 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Texas Capital Bancshares by 0.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 11,170 shares of the bank’s stock worth $932,000 after purchasing an additional 60 shares in the last quarter. World Asset Management Inc lifted its stake in Texas Capital Bancshares by 2.1% in the 2nd quarter. World Asset Management Inc now owns 3,134 shares of the bank’s stock worth $243,000 after purchasing an additional 64 shares in the last quarter. 1st Global Advisors Inc. lifted its stake in Texas Capital Bancshares by 1.1% in the 2nd quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock worth $540,000 after purchasing an additional 77 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Texas Capital Bancshares by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,865 shares of the bank’s stock worth $1,074,000 after purchasing an additional 85 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 loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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