SunTrust Banks downgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a buy rating to a hold rating in a research report report published on Thursday, BenzingaRatingsTable reports. SunTrust Banks currently has $63.00 price target on the bank’s stock, down from their previous price target of $72.00. SunTrust Banks also issued estimates for Texas Capital Bancshares’ Q2 2020 earnings at $1.45 EPS.
A number of other equities research analysts have also recently commented on the stock. Compass Point cut shares of Texas Capital Bancshares from a buy rating to a neutral rating and set a $58.49 target price on the stock. in a research note on Thursday, April 18th. TheStreet cut shares of UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Stephens restated a buy rating and set a $31.00 target price on shares of Fidelity Southern in a research note on Thursday, April 18th. Wedbush initiated coverage on shares of LYFT in a research note on Wednesday, March 27th. They set a neutral rating on the stock. Finally, Piper Jaffray Companies set a $10.00 target price on shares of Mammoth Energy Services and gave the stock a buy rating in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, ten have given 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 target price of $66.50.
NASDAQ TCBI opened at $58.86 on Thursday. Texas Capital Bancshares has a 12 month low of $47.86 and a 12 month high of $96.88. The company has a market cap of $2.96 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. The business’s 50 day moving average price is $59.87. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.21 and a current ratio of 1.26.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 17th. The bank reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). Texas Capital Bancshares had a return on equity of 13.29% and a net margin of 22.88%. The firm had revenue of $267.92 million for the quarter, compared to the consensus estimate of $267.15 million. During the same quarter in the previous year, the business posted $1.38 EPS. Sell-side analysts predict that Texas Capital Bancshares will post 6.12 earnings per share for the current fiscal year.
In other Texas Capital Bancshares news, Director Ian J. Turpin sold 3,977 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $60.59, for a total transaction of $240,966.43. Following the completion of the sale, the director now directly owns 4,632 shares of the company’s stock, valued at approximately $280,652.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO C Keith Cargill acquired 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $58.83 per share, with a total value of $176,490.00. Following the completion of the acquisition, the chief executive officer now owns 120,847 shares in the company, valued at $7,109,429.01. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. Louisiana State Employees Retirement System grew its holdings in shares of Texas Capital Bancshares by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the bank’s stock valued at $737,000 after purchasing an additional 200 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Texas Capital Bancshares by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 23,700 shares of the bank’s stock valued at $1,454,000 after purchasing an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Texas Capital Bancshares by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,086 shares of the bank’s stock valued at $1,096,000 after purchasing an additional 241 shares in the last quarter. American International Group Inc. grew its holdings in shares of Texas Capital Bancshares by 0.3% in the fourth quarter. American International Group Inc. now owns 102,465 shares of the bank’s stock valued at $5,235,000 after purchasing an additional 322 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of Texas Capital Bancshares by 0.5% in the first quarter. Retirement Systems of Alabama now owns 65,400 shares of the bank’s stock valued at $3,570,000 after purchasing an additional 335 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.
Texas Capital Bancshares Company Profile
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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