Zacks Investment Research lowered shares of Texas Capital Bancshares (NASDAQ:TCBI) from a buy rating to a hold rating in a report issued on Friday morning.
According to Zacks, “Shares of Texas Capital have outperformed the industry over the past six months. Further, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in each of the trailing four quarters. The company’s diversified fee income sources are likely to continue driving its top-line growth. Also, Texas Capital’s margins have relaxed to some extent, following consecutive rate hikes. Also, the company's strong capital position remains a tailwind. However, persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth.”
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Several other research analysts have also recently issued reports on TCBI. Stephens reissued a hold rating on shares of Texas Capital Bancshares in a research note on Tuesday, March 6th. BidaskClub raised Texas Capital Bancshares from a sell rating to a hold rating in a research note on Wednesday, March 21st. UBS Group started coverage on Texas Capital Bancshares in a research note on Thursday, March 22nd. They issued a sell rating on the stock. Keefe, Bruyette & Woods reissued a hold rating on shares of Texas Capital Bancshares in a research note on Thursday, April 19th. Finally, Piper Jaffray Companies raised Texas Capital Bancshares from a neutral rating to an overweight rating in a research note on Thursday, April 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $102.75.
Shares of Texas Capital Bancshares opened at $94.10 on Friday, according to Marketbeat Ratings. The company has a current ratio of 1.26, a quick ratio of 1.20 and a debt-to-equity ratio of 1.27. Texas Capital Bancshares has a fifty-two week low of $69.65 and a fifty-two week high of $103.05. The company has a market capitalization of $4.71 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.74.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, April 18th. The bank reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Texas Capital Bancshares had a return on equity of 12.00% and a net margin of 22.07%. The firm had revenue of $230.25 million for the quarter, compared to the consensus estimate of $225.43 million. During the same period in the prior year, the business posted $0.80 earnings per share. equities research analysts anticipate that Texas Capital Bancshares will post 6.13 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. boosted its position in Texas Capital Bancshares by 3.2% during the 1st quarter. Suntrust Banks Inc. now owns 25,722 shares of the bank’s stock valued at $2,310,000 after acquiring an additional 799 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Texas Capital Bancshares by 35.6% during the 1st quarter. Allianz Asset Management GmbH now owns 21,121 shares of the bank’s stock valued at $1,899,000 after acquiring an additional 5,542 shares in the last quarter. Principal Financial Group Inc. boosted its position in Texas Capital Bancshares by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 215,393 shares of the bank’s stock valued at $19,363,000 after acquiring an additional 5,306 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Texas Capital Bancshares during the 1st quarter valued at $250,000. Finally, Xact Kapitalforvaltning AB boosted its position in Texas Capital Bancshares by 33.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,323 shares of the bank’s stock valued at $568,000 after acquiring an additional 1,600 shares in the last quarter.
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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