Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) - Investment analysts at Wedbush lifted their Q3 2024 earnings estimates for shares of Texas Capital Bancshares in a research report issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $1.05 for the quarter, up from their previous forecast of $0.88. Wedbush has a "Neutral" rating and a $77.00 price target on the stock. The consensus estimate for Texas Capital Bancshares' current full-year earnings is $3.44 per share. Wedbush also issued estimates for Texas Capital Bancshares' FY2024 earnings at $3.42 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.43 EPS, FY2025 earnings at $4.65 EPS and FY2026 earnings at $5.00 EPS.
Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $472.49 million during the quarter, compared to analyst estimates 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 prior year, the business earned $1.33 earnings per share.
Several other analysts have also issued reports on TCBI. DA Davidson raised their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Hovde Group lifted their target price on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the company a "market perform" rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the company an "underweight" rating in a research report on Monday, September 9th. Raymond James upgraded shares of Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 target price on the stock in a research report on Tuesday, September 17th. Finally, Stephens lifted their target price on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 19th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $69.20.
Check Out Our Latest Report on Texas Capital Bancshares
Texas Capital Bancshares Stock Performance
NASDAQ TCBI traded up $0.69 during midday trading on Thursday, hitting $70.71. The company had a trading volume of 213,447 shares, compared to its average volume of 424,241. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.03 and a beta of 1.13. The firm has a fifty day simple moving average of $65.72 and a two-hundred day simple moving average of $61.86. Texas Capital Bancshares has a fifty-two week low of $52.89 and a fifty-two week high of $74.57.
Insider Buying and Selling at Texas Capital Bancshares
In other news, Director Robert W. Stallings purchased 15,000 shares of Texas Capital Bancshares stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $400,000. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert W. Stallings bought 15,000 shares of the company's stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $400,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 4,000 shares of the company's stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the purchase, 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 have bought a total of 43,500 shares of company stock worth $876,400 over the last ninety days. Corporate insiders own 0.99% of the company's stock.
Hedge Funds Weigh In On Texas Capital Bancshares
A number of institutional investors have recently modified their holdings of TCBI. Wellington Management Group LLP raised its stake in shares of 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 buying an additional 547,336 shares during the last quarter. Norges Bank bought a new stake in shares of Texas Capital Bancshares during the fourth quarter worth approximately $35,120,000. AQR Capital Management LLC raised its stake in shares of Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank's stock worth $65,219,000 after buying an additional 506,094 shares during the last quarter. Millennium Management LLC raised its stake in shares of Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock worth $22,767,000 after buying an additional 221,454 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in shares of Texas Capital Bancshares during the second quarter worth approximately $11,489,000. 96.88% of the stock is owned by institutional investors.
Texas Capital Bancshares Company Profile
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Get Free Report)
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.
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