Texas Capital Bancshares Inc (NASDAQ:TCBI) – Analysts at SunTrust Banks cut their Q3 2019 EPS estimates for shares of Texas Capital Bancshares in a research report issued on Thursday, July 18th. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings per share of $1.37 for the quarter, down from their previous forecast of $1.71. SunTrust Banks has a “Hold” rating and a $63.00 price target on the stock. SunTrust Banks also issued estimates for Texas Capital Bancshares’ Q4 2019 earnings at $1.34 EPS, FY2019 earnings at $5.80 EPS, Q1 2020 earnings at $1.24 EPS, Q3 2020 earnings at $1.56 EPS, Q4 2020 earnings at $1.54 EPS and FY2020 earnings at $5.78 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 17th. The bank reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). The business had revenue of $267.92 million during the quarter, compared to analysts’ expectations of $267.15 million. Texas Capital Bancshares had a return on equity of 13.29% and a net margin of 22.88%. During the same quarter in the previous year, the business earned $1.38 EPS.
TCBI has been the topic of a number of other research reports. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Compass Point cut shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 target price on the stock. in a research report on Thursday, April 18th. Wedbush initiated coverage on shares of LYFT in a research report on Wednesday, March 27th. They issued a “neutral” rating on the stock. Sanford C. Bernstein cut shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.50.
Shares of NASDAQ:TCBI opened at $60.03 on Monday. The stock has a market cap of $2.96 billion, a PE ratio of 10.37, a PEG ratio of 0.93 and a beta of 1.80. The stock has a fifty day simple moving average of $60.00. Texas Capital Bancshares has a 52 week low of $47.86 and a 52 week high of $96.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.21 and a current ratio of 1.26.
A number of institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Texas Capital Bancshares by 14.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,336,828 shares of the bank’s stock worth $68,298,000 after acquiring an additional 170,059 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in Texas Capital Bancshares by 20.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,251,651 shares of the bank’s stock worth $68,328,000 after acquiring an additional 215,197 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Texas Capital Bancshares by 38.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,092,496 shares of the bank’s stock worth $55,816,000 after acquiring an additional 304,892 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in Texas Capital Bancshares by 16.3% in the 1st quarter. Wasatch Advisors Inc. now owns 1,056,571 shares of the bank’s stock worth $57,678,000 after acquiring an additional 148,269 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Texas Capital Bancshares by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 524,855 shares of the bank’s stock valued at $26,814,000 after purchasing an additional 49,522 shares in the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO C Keith Cargill purchased 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $58.83 per share, with a total value of $176,490.00. Following the acquisition, the chief executive officer now directly owns 120,847 shares in the company, valued at $7,109,429.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ian J. Turpin sold 3,977 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the completion of the sale, the director now directly owns 4,632 shares in the company, valued at approximately $280,652.88. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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