Texas Capital Bancshares Inc (TCBI) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies reiterated their neutral rating on shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) in a report issued on Saturday, April 22nd. The brokerage currently has a $80.00 price target on the bank’s stock, down from their prior price target of $85.00.

TCBI has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a buy rating to a hold rating in a research report on Monday, January 16th. JMP Securities started coverage on shares of Texas Capital Bancshares in a research report on Thursday, February 2nd. They set an outperform rating and a $98.00 price target for the company. Raymond James Financial, Inc. reissued an outperform rating and set a $98.00 price objective (up from $95.00) on shares of Texas Capital Bancshares in a research note on Thursday, March 16th. Jefferies Group LLC reissued a buy rating and set a $102.00 price objective on shares of Texas Capital Bancshares in a research note on Tuesday, March 21st. Finally, Stephens reissued a hold rating on shares of Texas Capital Bancshares in a research note on Thursday, April 20th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $81.00.

Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded up 0.60% during trading on Friday, reaching $75.35. The company had a trading volume of 493,299 shares. The company has a market capitalization of $3.73 billion, a PE ratio of 22.08 and a beta of 1.41. Texas Capital Bancshares has a 52 week low of $41.47 and a 52 week high of $93.35. The stock’s 50-day moving average price is $78.13 and its 200-day moving average price is $78.94.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.08. Texas Capital Bancshares had a net margin of 19.98% and a return on equity of 9.94%. The company had revenue of $180.47 million for the quarter, compared to analyst estimates of $192.60 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, equities analysts expect that Texas Capital Bancshares will post $3.85 EPS for the current fiscal year.

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In other Texas Capital Bancshares news, insider C Keith Cargill bought 5,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, April 21st. The shares were acquired at an average price of $73.57 per share, for a total transaction of $367,850.00. Following the acquisition, the insider now owns 77,286 shares of the company’s stock, valued at approximately $5,685,931.02. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ian J. Turpin sold 2,507 shares of the business’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $73.59, for a total transaction of $184,490.13. Following the completion of the transaction, the director now owns 9,991 shares in the company, valued at approximately $735,237.69. The disclosure for this sale can be found here. Insiders own 1.08% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Miles Capital Inc. raised its position in shares of Texas Capital Bancshares by 0.4% in the first quarter. Miles Capital Inc. now owns 3,141 shares of the bank’s stock worth $262,000 after buying an additional 13 shares in the last quarter. Aperio Group LLC raised its position in shares of Texas Capital Bancshares by 0.5% in the third quarter. Aperio Group LLC now owns 9,027 shares of the bank’s stock worth $496,000 after buying an additional 44 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Texas Capital Bancshares by 0.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,170 shares of the bank’s stock valued at $932,000 after buying an additional 60 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Texas Capital Bancshares by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 12,865 shares of the bank’s stock valued at $1,074,000 after buying an additional 85 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in Texas Capital Bancshares by 0.3% in the first quarter. Texas Permanent School Fund now owns 35,852 shares of the bank’s stock valued at $2,992,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

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.

12 Month Chart for NASDAQ:TCBI

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