According to Zacks, “Shares of Texas Capital have underperformed the industry over the past six months. The company has a disappointing earnings surprise history, beating the Zacks Consensus Estimate in only one of the trailing four quarters. Further, earnings estimates have been going down ahead of the company's first quarter 2019 results. The company’s persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth to some extent. Moreover, lack of geographical diversification remains a concern. However, growth in revenues and favorable interest rates are likely to support the company. Also, the company’s diversified fee income sources, along with rising loans and deposits balances are likely to drive top-line growth.”
A number of other research firms have also weighed in on TCBI. Barclays raised shares of Texas Capital Bancshares from an equal weight rating to an overweight rating and set a $70.00 price target on the stock in a research report on Thursday, January 10th. Jefferies Financial Group lowered shares of Texas Capital Bancshares from a buy rating to a hold rating in a report on Tuesday, January 8th. JPMorgan Chase & Co. started coverage on shares of Texas Capital Bancshares in a report on Friday, December 14th. They set a neutral rating for the company. Wedbush lowered shares of Texas Capital Bancshares from an outperform rating to a neutral rating and set a $65.00 price target for the company. in a report on Wednesday, March 27th. Finally, Stephens reiterated a hold rating and set a $59.00 price target on shares of Texas Capital Bancshares in a report on Wednesday, December 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Texas Capital Bancshares presently has a consensus rating of Hold and an average price target of $89.57.
Texas Capital Bancshares stock opened at $57.98 on Friday. Texas Capital Bancshares has a 1-year low of $47.86 and a 1-year high of $103.05. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.77. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.23 and a current ratio of 1.32.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, January 23rd. The bank reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.21). Texas Capital Bancshares had a net margin of 24.02% and a return on equity of 13.35%. The firm had revenue of $255.95 million for the quarter, compared to the consensus estimate of $253.17 million. During the same period in the previous year, the business earned $1.19 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 6.24 EPS for the current year.
In other Texas Capital Bancshares news, Director Steve Rosenberg sold 2,305 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $61.31, for a total transaction of $141,319.55. Following the transaction, the director now directly owns 35,008 shares of the company’s stock, valued at approximately $2,146,340.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ian J. Turpin sold 1,294 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $60.72, for a total transaction of $78,571.68. Following the transaction, the director now directly owns 8,102 shares in the company, valued at $491,953.44. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. JOYN Advisors Inc. increased its position in Texas Capital Bancshares by 1,445.8% during the 4th quarter. JOYN Advisors Inc. now owns 912 shares of the bank’s stock valued at $47,000 after purchasing an additional 853 shares during the period. JCSD Capital LLC purchased a new position in Texas Capital Bancshares during the 4th quarter valued at $51,000. Toronto Dominion Bank purchased a new position in Texas Capital Bancshares during the 4th quarter valued at $74,000. FMR LLC purchased a new position in Texas Capital Bancshares during the 3rd quarter valued at $129,000. Finally, Tower Research Capital LLC TRC increased its position in Texas Capital Bancshares by 196.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,013 shares of the bank’s stock valued at $166,000 after purchasing an additional 1,334 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.
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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