Texas Capital Bancshares Inc (NASDAQ:TCBI) – Research analysts at Jefferies Financial Group cut their FY2018 earnings per share (EPS) estimates for shares of Texas Capital Bancshares in a research report issued to clients and investors on Thursday, October 18th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $6.02 per share for the year, down from their prior estimate of $6.27. Jefferies Financial Group currently has a “Buy” rating and a $105.00 price target on the stock. Jefferies Financial Group also issued estimates for Texas Capital Bancshares’ Q4 2018 earnings at $1.61 EPS, Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.60 EPS and Q4 2019 earnings at $1.61 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.07). Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. The firm had revenue of $257.69 million during the quarter, compared to analysts’ expectations of $257.14 million. During the same quarter in the previous year, the company posted $1.12 earnings per share.
TCBI has been the subject of a number of other reports. BidaskClub cut Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, September 15th. Sandler O’Neill reiterated a “hold” rating and issued a $103.00 price objective on shares of Texas Capital Bancshares in a report on Friday, July 20th. Wedbush upped their price objective on Texas Capital Bancshares from $109.00 to $110.00 and gave the stock a “$96.20” rating in a report on Thursday, July 19th. Barclays cut their price objective on Texas Capital Bancshares from $108.00 to $99.00 and set an “equal weight” rating for the company in a report on Wednesday, October 3rd. Finally, Zacks Investment Research cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.50.
TCBI opened at $64.66 on Monday. 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 current ratio of 1.29 and a quick ratio of 1.21. The stock has a market capitalization of $3.35 billion, a PE ratio of 15.85, a PEG ratio of 1.07 and a beta of 1.78.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Commonwealth Equity Services LLC bought a new position in Texas Capital Bancshares during the 1st quarter valued at approximately $222,000. Allianz Asset Management GmbH raised its position in Texas Capital Bancshares by 35.6% during the 1st quarter. Allianz Asset Management GmbH now owns 21,121 shares of the bank’s stock valued at $1,899,000 after purchasing an additional 5,542 shares during the last quarter. A.R.T. Advisors LLC raised its position in Texas Capital Bancshares by 85.0% during the 1st quarter. A.R.T. Advisors LLC now owns 6,475 shares of the bank’s stock valued at $582,000 after purchasing an additional 2,975 shares during the last quarter. Millennium Management LLC raised its position in Texas Capital Bancshares by 94.1% during the 1st quarter. Millennium Management LLC now owns 16,411 shares of the bank’s stock valued at $1,475,000 after purchasing an additional 7,955 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Texas Capital Bancshares by 4.5% during the 1st quarter. Legal & General Group Plc now owns 60,168 shares of the bank’s stock valued at $5,409,000 after purchasing an additional 2,566 shares during the last quarter.
In related news, Director Ian J. Turpin sold 5,320 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $93.06, for a total transaction of $495,079.20. Following the completion of the sale, the director now directly owns 8,602 shares in the company, valued at approximately $800,502.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO C Keith Cargill bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $67.59 per share, with a total value of $202,770.00. Following the completion of the acquisition, the chief executive officer now directly owns 90,880 shares in the company, valued at $6,142,579.20. The disclosure for this purchase can be found here. Corporate insiders own 0.48% 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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