Texas Capital (NASDAQ: TCBI)‘s stock had its “outperform” rating reaffirmed by Zacks in a report released on Thursday. They currently have a $49.00 target price on the stock.
Zacks‘ analyst wrote, “Texas Capital’s second-quarter 2012 operating earnings surpassed the Zacks Consensus Estimate by a nickel. Quarterly results benefited from an increase in the top line aided by an augmentation of both net interest income as well as non-interest income. Yet, it was partially offset by higher expenses. Separately, the company announced a public offering of $1.75 million shares of common stock. Proceeds from this offering would be used by Texas Capital for its business and capital support. The company’s business model remains a chief growth driver. Besides, the gain in market share from its competitors and organic growth is impressive. Its efforts to hire experienced bankers and expand its presence are encouraging. Though, the resultant expenses that continue to grow remain a concern, we believe that with an eventual improvement in the Texan economy, the company would be poised to experience a further increase in earnings. “
Texas Capital traded down 0.59% on Thursday, hitting $40.62. Texas Capital has a 1-year low of $21.39 and a 1-year high of $43.79. The company has a market cap of $1.540 billion and a price-to-earnings ratio of 17.17.
Texas Capital last released its earnings data on Wednesday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. Analysts expect that Texas Capital will post $2.83 EPS for the current fiscal year.
A number of other firms have also recently commented on TCBI. Analysts at DA Davidson downgraded shares of Texas Capital from a “buy” rating to a “neutral” rating in a research note to investors on Monday, July 9th. They now have a $46.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Sterne Agee raised their price target on shares of Texas Capital to $42.50 in a research note to investors on Friday, June 1st. Finally, analysts at SunTrust upgraded shares of Texas Capital from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, May 31st.
Texas Capital Bancshares, Inc. is a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank).
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