Texas Capital Bancshares (NASDAQ:TCBI) Posts Earnings Results

Key Points

• Texas Capital Bancshares reported an earnings per share (EPS) of $2.18, exceeding analysts' expectations of $1.77 by $0.41.
• The stock price increased to $82.03, with a market capitalization of $3.75 billion and a P/E ratio of 32.55.
• Analysts show mixed sentiments, with the average rating being "Hold" and a consensus target price of $84.10.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) released its earnings results on Wednesday. The bank reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.41, Zacks reports. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI traded up $0.34 during midday trading on Wednesday, reaching $82.03. 782,095 shares of the company were exchanged, compared to its average volume of 487,223. Texas Capital Bancshares has a 1 year low of $59.37 and a 1 year high of $94.61. The stock has a fifty day simple moving average of $85.09 and a 200 day simple moving average of $79.13. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.75 billion, a P/E ratio of 32.55, a PEG ratio of 0.65 and a beta of 0.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TCBI shares. Hovde Group increased their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. TD Cowen raised shares of Texas Capital Bancshares to a "hold" rating in a report on Thursday, September 25th. Cowen began coverage on Texas Capital Bancshares in a research report on Wednesday, September 24th. They issued a "hold" rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.10.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in Texas Capital Bancshares by 3.6% in the second quarter. Captrust Financial Advisors now owns 13,183 shares of the bank's stock valued at $1,047,000 after acquiring an additional 464 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Texas Capital Bancshares by 452.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank's stock valued at $59,000 after acquiring an additional 611 shares during the period. Gabelli Funds LLC boosted its stake in shares of Texas Capital Bancshares by 8.4% during the 2nd quarter. Gabelli Funds LLC now owns 13,500 shares of the bank's stock worth $1,072,000 after acquiring an additional 1,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Texas Capital Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,603 shares of the bank's stock worth $2,062,000 after acquiring an additional 1,206 shares during the period. Finally, Brevan Howard Capital Management LP increased its stake in Texas Capital Bancshares by 8.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 21,949 shares of the bank's stock valued at $1,743,000 after purchasing an additional 1,764 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.

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