Texas Capital Bancshares (TCBI) Lifted to “Outperform” at Wedbush

Wedbush upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a neutral rating to an outperform rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has $87.00 price objective on the bank’s stock, down from their prior price objective of $108.00. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2018 earnings at $1.42 EPS and FY2019 earnings at $6.76 EPS.

A number of other brokerages have also recently commented on TCBI. SunTrust Banks reaffirmed a buy rating and issued a $100.00 target price on shares of Texas Capital Bancshares in a report on Wednesday, November 29th. Deutsche Bank increased their price target on shares of Texas Capital Bancshares from $93.00 to $95.00 and gave the stock a hold rating in a report on Wednesday, November 8th. BidaskClub raised shares of Texas Capital Bancshares from a sell rating to a hold rating in a report on Wednesday. Barclays set a $87.00 price target on shares of Texas Capital Bancshares and gave the stock a hold rating in a report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Texas Capital Bancshares from a hold rating to a buy rating and set a $90.00 price target for the company in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $93.00.

Shares of Texas Capital Bancshares (NASDAQ:TCBI) opened at $92.75 on Thursday. Texas Capital Bancshares has a 1-year low of $69.65 and a 1-year high of $95.20. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 1.44. The company has a market cap of $4,642.56, a PE ratio of 24.09, a PEG ratio of 1.93 and a beta of 1.66.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $214.08 million. During the same period in the prior year, the company earned $0.87 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. sell-side analysts anticipate that Texas Capital Bancshares will post 4.03 EPS for the current fiscal year.

In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total transaction of $306,320.00. Following the transaction, the chief operating officer now directly owns 34,171 shares in the company, valued at $2,990,645.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TCBI. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Texas Capital Bancshares by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,018 shares of the bank’s stock valued at $156,000 after purchasing an additional 248 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $201,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at approximately $201,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Texas Capital Bancshares in the third quarter valued at approximately $201,000.

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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.

Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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