Texas Capital Bancshares Inc. (NASDAQ:TCBI) – Equities researchers at Wedbush cut their Q3 2016 earnings estimates for shares of Texas Capital Bancshares in a research report issued on Wednesday. Wedbush analyst now expects that the firm will earn $0.87 per share for the quarter, down from their prior estimate of $0.89. Wedbush has a “Neutral” rating and a $54.00 price target on the stock. Wedbush also issued estimates for Texas Capital Bancshares’ FY2016 earnings at $3.05 EPS and FY2017 earnings at $3.67 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 19.73%. During the same period last year, the business earned $0.76 earnings per share.
A number of other equities research analysts have also weighed in on TCBI. Barclays PLC lifted their price objective on Texas Capital Bancshares from $52.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, July 1st. TheStreet lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Deutsche Bank AG lifted their price objective on Texas Capital Bancshares from $56.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $54.00 price objective (up previously from $52.00) on shares of Texas Capital Bancshares in a report on Thursday, July 21st. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Texas Capital Bancshares currently has an average rating of “Hold” and an average price target of $52.50.
Texas Capital Bancshares (NASDAQ:TCBI) opened at 54.95 on Thursday. Texas Capital Bancshares has a 12 month low of $29.78 and a 12 month high of $61.83. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 20.28 and a beta of 1.47. The company has a 50-day moving average price of $53.65 and a 200 day moving average price of $47.90.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Texas Capital Bancshares by 97.3% in the first quarter. BlackRock Inc. now owns 3,097 shares of the company’s stock worth $118,000 after buying an additional 1,527 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $149,000. Strs Ohio boosted its stake in shares of Texas Capital Bancshares by 400.0% in the second quarter. Strs Ohio now owns 4,000 shares of the company’s stock valued at $187,000 after buying an additional 3,200 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $205,000. Finally, Suntrust Banks Inc. acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at approximately $230,000.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $52.55, for a total value of $131,375.00. Following the completion of the transaction, the director now directly owns 8,314 shares of the company’s stock, valued at $436,900.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.08% of the stock is currently owned by company insiders.
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