Texas Capital Bancshares Inc (NASDAQ:TCBI) – Jefferies Financial Group raised their Q3 2019 earnings per share estimates for Texas Capital Bancshares in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings per share of $1.70 for the quarter, up from their prior estimate of $1.66.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $1.60 EPS for the quarter, beating the consensus estimate of $1.34 by $0.26. Texas Capital Bancshares had a return on equity of 13.37% and a net margin of 23.36%. The company had revenue of $265.63 million for the quarter, compared to analyst estimates of $253.83 million. During the same period last year, the company earned $1.38 earnings per share.
Other analysts have also issued reports about the company. Stephens reissued a “buy” rating and issued a $31.00 price objective on shares of Fidelity Southern in a report on Thursday, April 18th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. TheStreet lowered UDR from a “b” rating to a “c” rating in a report on Tuesday, April 30th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Sanford C. Bernstein lowered SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $77.25.
Shares of TCBI opened at $61.13 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.21 and a current ratio of 1.30. Texas Capital Bancshares has a 12 month low of $47.86 and a 12 month high of $99.95. The firm has a 50 day simple moving average of $60.05. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 0.89 and a beta of 1.79.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Texas Capital Bancshares in the first quarter valued at approximately $34,000. First Interstate Bank lifted its position in Texas Capital Bancshares by 23.2% during the first quarter. First Interstate Bank now owns 2,575 shares of the bank’s stock worth $141,000 after buying an additional 485 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Texas Capital Bancshares during the first quarter worth approximately $164,000. Great Lakes Advisors LLC purchased a new position in Texas Capital Bancshares during the first quarter worth approximately $288,000. Finally, Dupont Capital Management Corp purchased a new position in Texas Capital Bancshares during the first quarter worth approximately $311,000. Institutional investors and hedge funds own 95.86% of the company’s stock.
In other news, Director Ian J. Turpin sold 3,977 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.59, for a total value of $240,966.43. Following the transaction, the director now owns 4,632 shares in the company, valued at $280,652.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $58.83 per share, for a total transaction of $176,490.00. Following the transaction, the chief executive officer now owns 120,847 shares of the company’s stock, 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.
About Texas Capital Bancshares
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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