Texas Capital Bancshares, Inc. Forecasted to Post Q3 2024 Earnings of $1.05 Per Share (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Equities research analysts at Wedbush upped their Q3 2024 earnings per share estimates for shares of Texas Capital Bancshares in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $1.05 per share for the quarter, up from their previous forecast of $0.88. Wedbush has a “Neutral” rating and a $77.00 price objective 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) last announced its earnings results 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 analysts’ expectations of $268.02 million. During the same period in the previous year, the company earned $1.33 earnings per share.

TCBI has been the topic of several other research reports. Citigroup restated a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. DA Davidson raised their target price on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Jefferies Financial Group lowered their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Stephens raised their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Truist Financial increased 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. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and an average target price of $69.20.

Texas Capital Bancshares Stock Down 1.3 %

Texas Capital Bancshares stock opened at $70.02 on Thursday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.03 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 twelve month low of $52.89 and a twelve month high of $74.57. The stock’s fifty day simple moving average is $65.62 and its 200-day simple moving average is $61.80.

Hedge Funds Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Texas Capital Bancshares by 9.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 47,381 shares of the bank’s stock valued at $2,897,000 after buying an additional 4,124 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Texas Capital Bancshares in the second quarter valued at $2,704,000. Algert Global LLC purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth $292,000. Millennium Management LLC grew its stake in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank’s stock valued at $23,323,000 after purchasing an additional 38,393 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $20.46 per share, with a total value of $204,600.00. Following the completion of the acquisition, the director now directly owns 31,294 shares in the company, valued at approximately $640,275.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert W. Stallings bought 4,000 shares of Texas Capital Bancshares stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Stallings purchased 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $204,600.00. Following the completion of the purchase, the director now owns 31,294 shares of the company’s stock, valued at $640,275.24. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,500 shares of company stock worth $876,400. 0.99% of the stock is owned by company 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.