Texas Capital Bancshares Inc (TCBI) is Upgraded by Hovde Group to Market Perform, Raises Price Target to $ 44

Texas Capital Bancshares Inc (TCBI) was Upgraded by Hovde Group to ” Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 44 from a previous price target of $41 . Earlier the firm had a rating of “Underperform ” on the company shares. Hovde Group advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on Texas Capital Bancshares Inc. Texas Capital Bancshares Inc was Upgraded by Raymond James to ” Strong Buy” on May 9, 2016. Company shares were Reiterated by Hovde Group on Apr 22, 2016 to “Underperform”, Firm has raised the Price Target to $ 41 from a previous price target of $36 .Texas Capital Bancshares Inc was Downgraded by Hovde Group to ” Underperform” on Apr 1, 2016.

On the company’s financial health, Texas Capital Bancshares Inc reported $0.49 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.67.Analysts expectations of $ 158.47.During the same quarter in the previous year, the company posted $0.70 EPS.

Texas Capital Bancshares Inc opened for trading at $42.57 and hit $43.65 on the upside on Tuesday, eventually ending the session at $43.31, with a gain of 2.48% or 1.05 points. The heightened volatility saw the trading volume jump to 4,33,526 shares. Company has a market cap of $1,988 M.

In a different news, on Apr 26, 2016, Steve Rosenberg (director) sold 982 shares at $45.09 per share price. According to the SEC, on Feb 26, 2016, Patricia A Watson (director) purchased 40 shares at $31.79 per share price. On Oct 29, 2015, Julie L Anderson (Chief Accounting Officer) sold 917 shares at $55.06 per share price, according to the Form-4 filing with the securities and exchange commission.

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). The Company offers loans deposit accounts and other financial products and services. It offers a range of products and services oriented to the needs of its business customers including 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. The Company provides a range of banking services for its individual customers including personal wealth management and trust services; certificates of deposit; interest bearing and non-interest bearing checking accounts; traditional money market and savings accounts; loans and internet banking.

Texas Capital Bancshares Inc

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