Q3 2024 EPS Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Decreased by Analyst

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Investment analysts at DA Davidson cut their Q3 2024 earnings estimates for shares of Texas Capital Bancshares in a research report issued on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $0.94 for the quarter, down from their previous forecast of $0.96. DA Davidson 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 $3.53 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2024 earnings at $3.47 EPS.

Several other brokerages also recently issued reports on TCBI. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and raised their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Truist Financial lifted their target price on Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens boosted their price target on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note 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 stock an “underweight” rating in a research report on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.20.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI opened at $72.00 on Friday. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $74.57. The company has a market cap of $3.33 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.98 and a beta of 1.13. The business’s 50 day moving average is $66.23 and its two-hundred day moving average is $62.34. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

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

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Rafferty Asset Management LLC boosted its stake in Texas Capital Bancshares by 144.5% in the fourth quarter. Rafferty Asset Management LLC now owns 123,140 shares of the bank’s stock worth $7,959,000 after purchasing an additional 72,782 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Texas Capital Bancshares during the second quarter valued at $675,000. Goldman Sachs Group Inc. boosted its holdings in Texas Capital Bancshares by 42.2% in the fourth 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 last quarter. Hodges Capital Management Inc. boosted its holdings in Texas Capital Bancshares by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock valued at $9,039,000 after acquiring an additional 28,650 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average price of $20.46 per share, with a total value of $204,600.00. Following the purchase, the director now directly owns 31,294 shares in the company, valued at $640,275.24. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 14,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now owns 55,294 shares in the company, valued at $1,102,009.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Stallings acquired 10,000 shares of Texas Capital Bancshares stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,500 shares of company stock valued at $876,400 in the last 90 days. 0.99% of the stock is owned by corporate insiders.

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.