Texas Capital Bancshares, Inc. Forecasted to Earn FY2024 Earnings of $3.74 Per Share (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Research analysts at DA Davidson lifted their FY2024 EPS estimates for shares of Texas Capital Bancshares in a research note issued on Tuesday, April 23rd. DA Davidson analyst P. Winter now expects that the bank will post earnings of $3.74 per share for the year, up from their prior estimate of $3.69. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.49 per share.

A number of other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada reduced their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Barclays began coverage on shares of Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target on the stock. UBS Group lifted their price target on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, Truist Financial reduced their price target on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $63.58.

Texas Capital Bancshares Stock Down 1.4 %

TCBI opened at $57.81 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a fifty-two week low of $42.79 and a fifty-two week high of $66.18. The firm’s fifty day moving average is $58.94 and its 200 day moving average is $59.05. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after purchasing an additional 68,211 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Texas Capital Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock valued at $211,025,000 after buying an additional 80,311 shares during the period. North Reef Capital Management LP boosted its position in Texas Capital Bancshares by 99.2% in the 3rd quarter. North Reef Capital Management LP now owns 1,450,000 shares of the bank’s stock valued at $85,405,000 after buying an additional 722,250 shares during the period. Bank of New York Mellon Corp boosted its position in Texas Capital Bancshares by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock valued at $76,045,000 after buying an additional 4,210 shares during the period. Finally, Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 97.9% in the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the acquisition, the director now owns 131,706 shares of the company’s stock, valued at approximately $2,624,900.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert W. Stallings purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average cost of $19.93 per share, for a total transaction of $79,720.00. Following the acquisition, the director now owns 131,706 shares of the company’s stock, valued at approximately $2,624,900.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price 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 in the company, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 18,000 shares of company stock worth $422,650. Insiders own 0.99% of the company’s stock.

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.