Texas Capital Bancshares Inc (TCBI) is Downgraded by BofA/Merrill to Neutral

Texas Capital Bancshares Inc (TCBI) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on Texas Capital Bancshares Inc. Company shares were Upgraded by Hovde Group on May 11, 2016 to ” Market Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $41 .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 .

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 closed down -3.32 points or -7.39% at $41.63 with 8,46,957 shares getting traded on Monday. Post opening the session at $43.96, the shares hit an intraday low of $41.465 and an intraday high of $44.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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