Analysts Issue Forecasts for Texas Capital Bancshares, Inc.’s FY2024 Earnings (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Texas Capital Bancshares in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst P. Winter now expects that the bank will post earnings per share of $3.74 for the year, up from their prior forecast of $3.69. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.57 per share.

Several other equities research analysts have also commented on the stock. 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 for the company in a report on Tuesday, April 9th. Hovde Group lowered their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Raymond James lowered Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group dropped their price target on Texas Capital Bancshares from $70.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.58.

Texas Capital Bancshares Trading Down 0.1 %

NASDAQ:TCBI opened at $60.12 on Thursday. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $2.80 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.11 and a beta of 1.19. The firm has a 50-day simple moving average of $59.01 and a 200-day simple moving average of $59.05.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 6,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the purchase, the director now directly owns 146,706 shares of the company’s stock, valued at approximately $2,734,599.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $58.78 per share, with a total value of $117,560.00. Following the purchase, the director now directly owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Stallings purchased 6,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, February 5th. The shares were purchased at an average cost of $18.64 per share, for a total transaction of $111,840.00. Following the transaction, the director now owns 146,706 shares in the company, valued at approximately $2,734,599.84. The disclosure for this purchase can be found here. Insiders bought 18,000 shares of company stock worth $422,650 in the last 90 days. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its holdings in Texas Capital Bancshares by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock valued at $849,000 after purchasing an additional 175 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Texas Capital Bancshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock valued at $3,887,000 after purchasing an additional 208 shares during the last quarter. Headlands Technologies LLC increased its holdings in Texas Capital Bancshares by 41.9% in the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares during the last quarter. Advisor Partners II LLC increased its holdings in Texas Capital Bancshares by 11.3% in the 3rd quarter. Advisor Partners II LLC now owns 4,924 shares of the bank’s stock valued at $290,000 after purchasing an additional 501 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Texas Capital Bancshares by 22.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,922 shares of the bank’s stock valued at $172,000 after purchasing an additional 535 shares during the last quarter. Institutional investors and hedge funds own 96.88% 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.