Texas Capital Bancshares, Inc. Expected to Post FY2024 Earnings of $3.46 Per Share (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – DA Davidson boosted their FY2024 EPS estimates for Texas Capital Bancshares in a report released on Monday, September 9th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $3.46 for the year, up from their prior forecast of $3.36. DA Davidson currently has a “Neutral” rating and a $74.00 price target on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.31 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2025 earnings at $5.45 EPS.

Other analysts have also recently issued research reports about the stock. Citigroup reiterated a “sell” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Bank of America raised Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their target price for the company from $51.00 to $77.00 in a research note on Monday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research report on Monday. Jefferies Financial Group lowered their price target on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial boosted their price objective on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.77.

Texas Capital Bancshares Trading Up 0.6 %

TCBI opened at $68.21 on Wednesday. The firm has a 50 day simple moving average of $64.33 and a 200 day simple moving average of $61.01. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $72.07. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 3.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the previous year, the firm earned $1.33 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TCBI. Charles Schwab Investment Management Inc. grew its position in shares of Texas Capital Bancshares by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,736 shares of the bank’s stock valued at $34,819,000 after acquiring an additional 12,254 shares during the period. Versor Investments LP bought a new position in shares of Texas Capital Bancshares in the 4th quarter valued at about $291,000. Teacher Retirement System of Texas grew its position in shares of Texas Capital Bancshares by 103.7% in the 4th quarter. Teacher Retirement System of Texas now owns 11,295 shares of the bank’s stock valued at $730,000 after acquiring an additional 5,749 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Texas Capital Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after acquiring an additional 80,311 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Texas Capital Bancshares by 8.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock valued at $46,551,000 after acquiring an additional 56,495 shares during the period. Institutional investors own 96.88% of the company’s stock.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 4,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares of the company’s stock, valued at $263,812.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now owns 55,294 shares in the company, valued at $1,102,009.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Stallings bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $20.62 per share, with a total value of $82,480.00. Following the transaction, the director now owns 12,794 shares of the company’s stock, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Insiders purchased 43,500 shares of company stock valued at $876,400 over the last quarter. Corporate insiders own 0.99% 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.