Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $65.15, but opened at $62.50. Texas Capital Bancshares shares last traded at $65.14, with a volume of 105,542 shares changing hands.
The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The company had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on TCBI. Barclays lowered their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. DA Davidson cut their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a report on Monday. Keefe, Bruyette & Woods dropped their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday. Hovde Group reduced their price target on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday. Finally, Stephens cut their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $76.64.
Check Out Our Latest Report on Texas Capital Bancshares
Insiders Place Their Bets
In other Texas Capital Bancshares news, Director Robert W. Stallings bought 7,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the transaction, the director now directly owns 49,500 shares in the company, valued at approximately $1,011,285. This represents a 16.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 29,402 shares of company stock valued at $653,787 in the last 90 days. Corporate insiders own 1.72% of the company's stock.
Hedge Funds Weigh In On Texas Capital Bancshares
A number of hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management bought a new stake in shares of Texas Capital Bancshares in the 4th quarter valued at about $30,000. Assetmark Inc. acquired a new position in shares of Texas Capital Bancshares in the fourth quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in Texas Capital Bancshares during the 4th quarter valued at approximately $41,000. Finally, UMB Bank n.a. raised its holdings in Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after purchasing an additional 534 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.
Texas Capital Bancshares Stock Up 2.0 %
The stock's 50-day moving average price is $72.90 and its 200-day moving average price is $78.06. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 51.07, a P/E/G ratio of 0.75 and a beta of 0.74.
About Texas Capital Bancshares
(
Get Free Report)
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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