Raymond James Downgrades Texas Capital Bancshares Inc to Outperform

Brokerage firm Raymond James Downgrades its rating on Texas Capital Bancshares Inc(NASDAQ:TCBI). The shares have been rated Outperform. Previously, the analysts had a Strong Buy rating on the shares. The rating by Raymond James was issued on Jul 21, 2016.

In a different note, On May 11, 2016, Hovde Group said it Upgrades its rating on Texas Capital Bancshares Inc. The shares have been rated ‘Market Perform’ by the firm. On May 9, 2016, Raymond James said it Upgrades its rating on Texas Capital Bancshares Inc. The shares have been rated ‘Strong Buy’ by the firm.

Texas Capital Bancshares Inc (TCBI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.22% or 0.11 points. Due to strong positive momentum, the stock ended at $50.18, which is also near the day’s high of $50.55. The stock began the session at $50.35 and the volume stood at 5,48,108 shares. The 52-week high of the shares is $61.83 and the 52 week low is $29.78. The company has a current market capitalization of $2,304 M and it has 4,59,04,763 shares in outstanding.

Texas Capital Bancshares Inc(TCBI) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $156.08M. Analysts had an estimated revenue of $159.20M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.67.

Several Insider Transactions has been reported to the SEC. On Apr 26, 2016, Steve Rosenberg (director) sold 982 shares at $45.09 per share price.Also, 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.

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