Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to Post Q2 2024 Earnings of $0.90 Per Share, DA Davidson Forecasts

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Stock analysts at DA Davidson upped their Q2 2024 earnings per share (EPS) estimates for Texas Capital Bancshares in a note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $0.90 for the quarter, up from their previous forecast of $0.89. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.46 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2024 earnings at $3.76 EPS and FY2025 earnings at $4.35 EPS.

Several other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Jefferies Financial Group decreased their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Stephens decreased their price target on Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Barclays assumed coverage on Texas Capital Bancshares in a research note on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.58.

Texas Capital Bancshares Trading Up 2.5 %

NASDAQ:TCBI opened at $61.14 on Monday. Texas Capital Bancshares has a 1 year low of $50.40 and a 1 year high of $66.18. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.52 and a beta of 1.15. The business has a fifty day moving average of $59.42 and a 200-day moving average of $60.16. 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 (NASDAQ:TCBI) last issued its earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Texas Capital Bancshares had a return on equity of 7.05% and a net margin of 9.66%. The firm had revenue of $256.33 million for the quarter, compared to analyst estimates of $253.27 million.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $19.36 per share, for a total transaction of $58,080.00. Following the transaction, the director now directly owns 169,706 shares of the company’s stock, valued at approximately $3,285,508.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of $19.52 per share, with a total value of $117,120.00. Following the purchase, the director now owns 163,706 shares in the company, valued at $3,195,541.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings acquired 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $19.36 per share, with a total value of $58,080.00. Following the completion of the purchase, the director now owns 169,706 shares in the company, valued at approximately $3,285,508.16. The disclosure for this purchase can be found here. Insiders purchased 15,004 shares of company stock worth $292,878 in the last quarter. 0.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after purchasing an additional 68,211 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Texas Capital Bancshares by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,085 shares of the bank’s stock worth $211,025,000 after purchasing an additional 80,311 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock worth $71,515,000 after purchasing an additional 547,336 shares in the last quarter. Heartland Advisors Inc. raised its stake in shares of Texas Capital Bancshares by 7.8% during the 4th quarter. Heartland Advisors Inc. now owns 819,896 shares of the bank’s stock worth $54,442,000 after purchasing an additional 59,132 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Texas Capital Bancshares by 8.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 720,263 shares of the bank’s stock worth $46,551,000 after purchasing an additional 56,495 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.