Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) dropped 6.3% on Thursday following a weaker than expected earnings announcement. The company traded as low as $70.65 and last traded at $73.83, with a volume of 2,541,419 shares changing hands. The stock had previously closed at $78.75.

The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by $0.08. Texas Capital Bancshares had a return on equity of 9.94% and a net margin of 19.98%. The business had revenue of $180.47 million for the quarter, compared to analyst estimates of $192.60 million. During the same period last year, the firm earned $0.49 EPS.

Several brokerages have recently weighed in on TCBI. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. JMP Securities began coverage on shares of Texas Capital Bancshares in a research report on Thursday, February 2nd. They set an “outperform” rating and a $98.00 price target on the stock. Raymond James Financial, Inc. reissued an “outperform” rating and set a $98.00 price target (up previously from $95.00) on shares of Texas Capital Bancshares in a research report on Thursday, March 16th. Jefferies Group LLC reissued a “buy” rating and set a $102.00 price target on shares of Texas Capital Bancshares in a research report on Tuesday, March 21st. Finally, Keefe, Bruyette & Woods set a $83.00 price target on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research report on Monday, April 3rd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Texas Capital Bancshares currently has an average rating of “Hold” and a consensus target price of $73.57.

Hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $128,000. Tyers Asset Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $180,000. Cantab Capital Partners LLP bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $205,000. Strategic Investment Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $215,000. Finally, Flinton Capital Management LLC bought a new position in shares of Texas Capital Bancshares during the fourth quarter worth approximately $219,000. Institutional investors own 95.46% of the company’s stock.

The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 23.738 and a beta of 1.41. The company has a 50-day moving average price of $83.16 and a 200 day moving average price of $76.03.

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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.

5 Day Chart for NASDAQ:TCBI

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