Q2 2024 Earnings Estimate for Texas Capital Bancshares, Inc. Issued By Wedbush (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Wedbush boosted their Q2 2024 earnings per share estimates for shares of Texas Capital Bancshares in a report released on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.85 per share for the quarter, up from their previous estimate of $0.79. Wedbush currently has a “Neutral” rating and a $61.00 target price on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.53 per share. Wedbush also issued estimates for Texas Capital Bancshares’ Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.22 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.24). The firm had revenue of $245.85 million for the quarter, compared to analyst estimates of $251.96 million. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. During the same period in the prior year, the company posted $0.87 earnings per share.

Other equities research analysts have also recently issued reports about the stock. Barclays initiated coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They set an “underweight” rating and a $47.00 price objective on the stock. Citigroup cut their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Hovde Group cut their price objective on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price objective on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Finally, Truist Financial cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $66.00 in a research note on Monday, April 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $63.13.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $58.68 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.07 and a beta of 1.19. Texas Capital Bancshares has a 1 year low of $42.79 and a 1 year high of $66.18. The stock’s fifty day moving average is $58.89 and its two-hundred day moving average is $59.03.

Institutional Trading of Texas Capital Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new position in Texas Capital Bancshares during the 1st quarter worth $261,000. HighTower Advisors LLC increased its stake in shares of Texas Capital Bancshares by 3.7% in the 1st quarter. HighTower Advisors LLC now owns 9,383 shares of the bank’s stock valued at $537,000 after purchasing an additional 337 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Texas Capital Bancshares by 3.1% in the 1st quarter. Natixis Advisors L.P. now owns 10,722 shares of the bank’s stock valued at $614,000 after purchasing an additional 326 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Texas Capital Bancshares by 39.3% in the 1st quarter. MetLife Investment Management LLC now owns 58,686 shares of the bank’s stock valued at $3,363,000 after purchasing an additional 16,567 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Texas Capital Bancshares by 0.8% in the 1st quarter. Rhumbline Advisers now owns 163,297 shares of the bank’s stock valued at $9,359,000 after purchasing an additional 1,327 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the acquisition, the director now directly owns 146,706 shares of the company’s stock, valued at $2,734,599.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings acquired 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was acquired at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the acquisition, the director now owns 146,706 shares in the company, valued at $2,734,599.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 23,000 shares of company stock worth $518,100. 0.99% of the stock is owned by insiders.

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.