Texas Capital Bancshares Inc. (TCBI) Stock Price Down 2.4%

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Texas Capital Bancshares Inc. (NASDAQ:TCBI)’s share price fell 2.4% during mid-day trading on Tuesday . The company traded as low as $51.50 and last traded at $52.20, with a volume of 151,006 shares traded. The stock had previously closed at $53.50.
A number of brokerages have recently issued reports on TCBI. FIG Partners reissued a “market-perform” rating on shares of Texas Capital Bancshares in a report on Monday, June 6th. Citigroup cut Texas Capital Bancshares to an “outperform” rating and raised their price target for the company from $52.00 to $54.00 in a report on Thursday, July 21st. Compass Point began coverage on Texas Capital Bancshares in a report on Friday, July 1st. They set a “buy” rating and a $54.00 price target for the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Texas Capital Bancshares in a report on Friday, June 3rd. Finally, Bank of America Corp. cut Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.82.
The firm has a market cap of $2.39 billion and a PE ratio of 19.18. The firm has a 50-day moving average of $50.19 and a 200-day moving average of $44.74.

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Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, July 20th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. During the same period in the prior year, the firm earned $0.76 EPS. Equities research analysts predict that Texas Capital Bancshares Inc. will post $2.98 EPS for the current year.
In other Texas Capital Bancshares news, Director James H. Browning sold 2,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $52.55, for a total transaction of $131,375.00. Following the completion of the sale, the director now directly owns 8,314 shares in the company, valued at $436,900.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loans, deposit accounts and other financial products and services. It offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit.

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