Texas Capital Bancshares (NASDAQ:TCBI) Price Target Cut to $63.00 by Analysts at Raymond James

Texas Capital Bancshares (NASDAQ:TCBI) had its price target lowered by Raymond James from $65.00 to $63.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the bank’s stock.

TCBI has been the subject of several other research reports. Wedbush started coverage on shares of LYFT in a report on Wednesday, March 27th. They issued a neutral rating for the company. Stephens reiterated a buy rating and set a $31.00 price target on shares of Fidelity Southern in a research note on Thursday, April 18th. SunTrust Banks reiterated a buy rating and set a $2,150.00 price target on shares of Booking in a research note on Thursday. Piper Jaffray Companies set a $10.00 price target on shares of Mammoth Energy Services and gave the stock a buy rating in a research note on Friday, June 7th. Finally, TheStreet cut shares of UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $72.75.

Shares of Texas Capital Bancshares stock traded up $1.79 during trading hours on Thursday, hitting $58.50. The company had a trading volume of 29,073 shares, compared to its average volume of 573,455. The company’s 50-day moving average price is $59.89. Texas Capital Bancshares has a twelve month low of $47.86 and a twelve month high of $99.95. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.21 and a current ratio of 1.30. The firm has a market cap of $2.95 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.88 and a beta of 1.79.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 17th. The bank reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.03). Texas Capital Bancshares had a net margin of 22.88% and a return on equity of 13.53%. The company had revenue of $267.92 million during the quarter, compared to analyst estimates of $267.15 million. During the same quarter in the previous year, the company posted $1.38 EPS. Equities research analysts expect that Texas Capital Bancshares will post 6.43 earnings per share for the current fiscal year.

In other news, CEO C Keith Cargill acquired 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $58.83 per share, for a total transaction of $176,490.00. Following the transaction, the chief executive officer now owns 120,847 shares in the company, valued at $7,109,429.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian J. Turpin sold 3,977 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the transaction, the director now owns 4,632 shares of the company’s stock, valued at approximately $280,652.88. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TCBI. Manchester Capital Management LLC purchased a new position in shares of Texas Capital Bancshares in the 1st quarter valued at about $34,000. First Interstate Bank increased its holdings in shares of Texas Capital Bancshares by 23.2% in the 1st quarter. First Interstate Bank now owns 2,575 shares of the bank’s stock valued at $141,000 after purchasing an additional 485 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Texas Capital Bancshares in the 1st quarter valued at about $164,000. Great Lakes Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the 1st quarter valued at about $288,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Texas Capital Bancshares in the 1st quarter valued at about $311,000. Institutional investors and hedge funds own 95.85% of the company’s stock.

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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Analyst Recommendations for Texas Capital Bancshares (NASDAQ:TCBI)

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