Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.
Several other brokerages also recently commented on TCBI. Bank of America reaffirmed a “neutral” rating and issued a $69.00 price target on shares of Texas Capital Bancshares in a research report on Tuesday, January 18th. Raymond James dropped their price target on Texas Capital Bancshares from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, January 21st. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $70.98.
Shares of NASDAQ TCBI opened at $55.62 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $63.32 and its two-hundred day moving average is $61.77. The company has a market cap of $2.82 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.12 and a beta of 1.63. Texas Capital Bancshares has a 12 month low of $54.27 and a 12 month high of $71.68.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last issued its quarterly earnings results on Thursday, January 20th. The bank reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.28. The company had revenue of $225.49 million for the quarter, compared to the consensus estimate of $215.31 million. Texas Capital Bancshares had a return on equity of 9.00% and a net margin of 25.02%. During the same period in the previous year, the business posted $1.14 EPS. Sell-side analysts expect that Texas Capital Bancshares will post 3.35 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Texas Capital Bancshares by 1,374.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank’s stock valued at $91,473,000 after buying an additional 1,415,279 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Texas Capital Bancshares by 48,491.4% in the 3rd quarter. William Blair Investment Management LLC now owns 823,624 shares of the bank’s stock valued at $49,434,000 after buying an additional 821,929 shares in the last quarter. Norges Bank acquired a new stake in Texas Capital Bancshares in the 4th quarter valued at $47,757,000. Invesco Ltd. boosted its stake in Texas Capital Bancshares by 84.4% in the 4th quarter. Invesco Ltd. now owns 929,516 shares of the bank’s stock valued at $56,003,000 after buying an additional 425,431 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Texas Capital Bancshares in the 3rd quarter valued at $24,285,000. 94.32% of the stock is currently owned by institutional investors.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking, consumer banking, investment banking, and wealth management services.