Texas Capital Bancshares (NASDAQ:TCBI) released its quarterly earnings results on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.07), Briefing.com reports. Texas Capital Bancshares had a net margin of 23.10% and a return on equity of 13.36%. The company had revenue of $257.69 million during the quarter, compared to the consensus estimate of $257.14 million. During the same period in the prior year, the company earned $1.12 earnings per share.
Shares of TCBI stock traded down $0.61 during trading hours on Friday, hitting $62.82. 569,842 shares of the company’s stock traded hands, compared to its average volume of 846,609. The company has a market capitalization of $3.20 billion, a P/E ratio of 15.40, a PEG ratio of 1.02 and a beta of 1.86. Texas Capital Bancshares has a 12 month low of $61.48 and a 12 month high of $103.05. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.21 and a current ratio of 1.29.
Several research analysts have recently commented on TCBI shares. Zacks Investment Research raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Monday, September 3rd. BidaskClub lowered shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 15th. Stephens set a $78.00 price target on shares of Texas Capital Bancshares and gave the stock a “hold” rating in a research report on Thursday, October 18th. Royal Bank of Canada reduced their price target on shares of Texas Capital Bancshares to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 18th. Finally, Barclays reduced their price target on shares of Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $96.82.
In related news, Director Ian J. Turpin sold 5,320 shares of Texas Capital Bancshares stock in a transaction on Friday, August 24th. The shares were sold at an average price of $93.06, for a total transaction of $495,079.20. Following the completion of the transaction, the director now owns 8,602 shares of the company’s stock, valued at $800,502.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO C Keith Cargill purchased 3,000 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $202,770.00. Following the completion of the purchase, the chief executive officer now owns 90,880 shares of the company’s stock, valued at approximately $6,142,579.20. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.
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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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