DA Davidson Weighs in on Texas Capital Bancshares, Inc.’s Q2 2024 Earnings (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Analysts at DA Davidson upped their Q2 2024 earnings estimates for Texas Capital Bancshares in a report issued on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $0.90 for the quarter, up from their prior estimate of $0.89. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.46 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2024 earnings at $3.76 EPS and FY2025 earnings at $4.35 EPS.

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

Other equities research analysts also recently issued reports about the stock. Raymond James downgraded shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 4th. Royal Bank of Canada cut their price objective on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating for the company 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 target price on the stock. Keefe, Bruyette & Woods cut their price target on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Mizuho reiterated a “hold” rating and set a $66.00 price objective (down from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.58.

Texas Capital Bancshares Stock Down 0.8 %

TCBI stock opened at $60.66 on Monday. The stock has a fifty day moving average of $59.45 and a 200-day moving average of $60.14. Texas Capital Bancshares has a fifty-two week low of $50.40 and a fifty-two week high of $66.18. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in shares of Texas Capital Bancshares by 426.6% in the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. bought a new position in Texas Capital Bancshares in the 1st quarter worth $50,000. Fidelis Capital Partners LLC purchased a new stake in shares of Texas Capital Bancshares in the 1st quarter worth about $54,000. Headlands Technologies LLC boosted its stake in shares of Texas Capital Bancshares by 41.9% during the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new position in Texas Capital Bancshares in the fourth quarter worth about $139,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the acquisition, the director now owns 169,706 shares in the company, valued at approximately $3,285,508.16. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert W. Stallings purchased 6,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of $19.52 per share, with a total value of $117,120.00. Following the purchase, the director now directly owns 163,706 shares of the company’s stock, valued at $3,195,541.12. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was bought at an average price of $19.36 per share, with a total value of $58,080.00. Following the transaction, the director now directly owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 15,004 shares of company stock worth $292,878. Corporate insiders own 1.53% of the company’s stock.

About Texas Capital Bancshares

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.