Q3 2024 Earnings Forecast for Texas Capital Bancshares, Inc. Issued By DA Davidson (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – DA Davidson cut their Q3 2024 earnings per share estimates for shares of Texas Capital Bancshares in a report issued on Thursday, October 3rd. DA Davidson analyst P. Winter now anticipates that the bank will earn $0.94 per share for the quarter, down from their prior forecast of $0.96. DA Davidson has a “Neutral” rating and a $74.00 price objective on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.47 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2024 earnings at $3.47 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data 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 analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period in the prior year, the business posted $1.33 earnings per share.

TCBI has been the topic of a number of other reports. Hovde Group raised their price objective on Texas Capital Bancshares from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Truist Financial raised their price objective on Texas Capital Bancshares from $70.00 to $80.00 and gave the company a “hold” rating in a report on Friday, September 20th. Stephens raised their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $69.20.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $72.00 on Friday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.00 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 1-year low of $52.89 and a 1-year high of $74.57. The stock’s 50-day moving average is $66.14 and its 200 day moving average is $62.25.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $20.62 per share, for a total transaction of $82,480.00. Following the transaction, the director now owns 12,794 shares in the company, valued at $263,812.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings acquired 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 43,500 shares of company stock worth $876,400. 0.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. UBS Group AG lifted its stake in shares of Texas Capital Bancshares by 51.0% in the 4th quarter. UBS Group AG now owns 97,714 shares of the bank’s stock valued at $6,315,000 after purchasing an additional 33,022 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Texas Capital Bancshares in the 4th quarter valued at approximately $1,551,000. Rafferty Asset Management LLC lifted its stake in shares of Texas Capital Bancshares by 144.5% in the 4th quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock valued at $7,959,000 after purchasing an additional 72,782 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Texas Capital Bancshares by 512.8% in the 4th quarter. GSA Capital Partners LLP now owns 54,089 shares of the bank’s stock valued at $3,496,000 after purchasing an additional 45,263 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after purchasing an additional 161,643 shares during the period. Hedge funds and other institutional investors own 96.88% 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.