Zacks Investment Research Lowers Texas Capital Bancshares, Inc. (TCBI) to Sell
Zacks Investment Research cut shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) from a hold rating to a sell rating in a research note issued to investors on Tuesday 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. Texas Capital’s margins have relaxed to some extent, following the three rate hikes since December 2016. However, persistently increasing expenses mainly due to hiring of experienced bankers is likely to hurt bottom line growth. Also, lack of geographical diversification keeps us apprehensive.”
Several other equities analysts have also recently weighed in on TCBI. BidaskClub cut Texas Capital Bancshares from a sell rating to a strong sell rating in a research note on Monday, August 14th. ValuEngine raised Texas Capital Bancshares from a hold rating to a buy rating in a research note on Tuesday, August 1st. Hovde Group lifted their target price on Texas Capital Bancshares from $85.00 to $86.00 and gave the company a market perform rating in a research note on Tuesday, August 1st. Stephens reaffirmed a hold rating and set a $84.00 target price on shares of Texas Capital Bancshares in a research note on Thursday, July 20th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $86.00 target price on shares of Texas Capital Bancshares in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $87.33.
Texas Capital Bancshares (NASDAQ TCBI) traded down 0.23% during midday trading on Tuesday, hitting $85.60. 241,131 shares of the company traded hands. The company has a market cap of $4.25 billion, a PE ratio of 23.76 and a beta of 1.68. The stock has a 50 day moving average price of $78.28 and a 200-day moving average price of $77.86. Texas Capital Bancshares has a 12-month low of $53.21 and a 12-month high of $93.35.
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 Thomson Reuters’ consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The company had revenue of $201.73 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same quarter in the previous year, the business posted $0.78 EPS. Analysts expect that Texas Capital Bancshares will post $4.01 EPS for the current year.
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In related news, insider C Keith Cargill bought 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, for a total transaction of $222,450.00. Following the acquisition, the insider now owns 80,286 shares in the company, valued at $5,953,206.90. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Miles Capital Inc. lifted its holdings 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 during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings 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 during the last quarter. World Asset Management Inc lifted its holdings 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 during the last quarter. 1st Global Advisors Inc. lifted its holdings 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 during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings 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 during the last quarter.
About Texas Capital Bancshares
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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