Q2 2024 EPS Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Cut by Wedbush

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Analysts at Wedbush reduced their Q2 2024 earnings per share estimates for shares of Texas Capital Bancshares in a research report issued to clients and investors on Monday, June 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.82 per share for the quarter, down from their prior estimate of $0.85. Wedbush currently has a “Neutral” rating and a $61.00 price objective on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.50 per share. Wedbush also issued estimates for Texas Capital Bancshares’ Q3 2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.74 EPS, Q3 2025 earnings at $1.18 EPS and FY2025 earnings at $4.20 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. The business had revenue of $256.33 million during the quarter, compared to analysts’ expectations of $253.27 million.

TCBI has been the topic of several other research reports. Truist Financial cut their price target on Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Jefferies Financial Group decreased their price target on shares of Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada lowered their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Barclays initiated coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $59.63 on Thursday. Texas Capital Bancshares has a one year low of $49.93 and a one year high of $66.18. The company has a market cap of $2.78 billion, a PE ratio of 18.07, a P/E/G ratio of 1.45 and a beta of 1.15. The stock has a 50-day moving average of $59.37 and a 200-day moving average of $60.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now owns 156,706 shares in the company, valued at $3,055,767. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert W. Stallings bought 6,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $19.52 per share, with a total value of $117,120.00. Following the completion of the transaction, the director now directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 3,000 shares of the stock in a transaction on Friday, May 10th. The stock was purchased at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now owns 156,706 shares of the company’s stock, valued at $3,055,767. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 15,004 shares of company stock valued at $292,878. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 97.9% during the fourth quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares during the period. Norges Bank purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $35,120,000. AQR Capital Management LLC grew its stake in Texas Capital Bancshares by 155.3% in the 3rd quarter. AQR Capital Management LLC now owns 297,143 shares of the bank’s stock valued at $17,502,000 after buying an additional 180,743 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after acquiring an additional 161,643 shares during the period. Finally, Penn Capital Management Company LLC lifted its position in shares of Texas Capital Bancshares by 56.1% during the fourth quarter. Penn Capital Management Company LLC now owns 237,233 shares of the bank’s stock worth $15,377,000 after acquiring an additional 85,232 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.