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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) - Investment analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of Texas Capital Bancshares in a research note issued on Tuesday, April 23rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $3.74 for the year, up from their previous forecast of $3.69. The consensus estimate for Texas Capital Bancshares' current full-year earnings is $3.57 per share.

Several other analysts have also commented on the company. Jefferies Financial Group dropped their target price on Texas Capital Bancshares from $70.00 to $61.00 and set a "hold" rating on the stock in a report on Monday, April 8th. UBS Group lifted their target price on Texas Capital Bancshares from $56.00 to $57.00 and gave the company a "sell" rating in a research report on Tuesday, January 23rd. Raymond James downgraded Texas Capital Bancshares from a "strong-buy" rating to a "market perform" rating in a report on Thursday, April 4th. Royal Bank of Canada decreased their target price on Texas Capital Bancshares from $68.00 to $66.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 9th. Finally, 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 research report on Thursday, April 4th. 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. Based on data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and an average price target of $63.58.

Texas Capital Bancshares Stock Down 2.5 %

NASDAQ TCBI traded down $1.51 on Thursday, reaching $58.61. 429,933 shares of the stock traded hands, compared to its average volume of 467,695. Texas Capital Bancshares has a 12 month low of $42.79 and a 12 month high of $66.18. The company has a fifty day moving average price of $59.01 and a 200-day moving average price of $59.05. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.11 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Texas Capital Bancshares by 78.0% in the 3rd quarter. Wellington Management Group LLP now owns 559,200 shares of the bank's stock worth $32,937,000 after buying an additional 245,074 shares during the period. Walleye Capital LLC raised its holdings in Texas Capital Bancshares by 63.9% in the 3rd quarter. Walleye Capital LLC now owns 174,311 shares of the bank's stock worth $10,267,000 after purchasing an additional 67,964 shares during the period. New York State Common Retirement Fund lifted its holdings in Texas Capital Bancshares by 131.9% during the third quarter. New York State Common Retirement Fund now owns 150,829 shares of the bank's stock valued at $8,884,000 after purchasing an additional 85,793 shares in the last quarter. First Dallas Securities Inc. purchased a new stake in shares of Texas Capital Bancshares in the third quarter valued at about $1,178,000. Finally, North Reef Capital Management LP lifted its holdings in shares of 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 worth $85,405,000 after acquiring an additional 722,250 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Insider Activity

In other Texas Capital Bancshares news, Director Thomas E. Long bought 2,000 shares of Texas Capital Bancshares stock in a transaction 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 acquisition, the director now owns 7,542 shares in the company, valued at approximately $443,318.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Thomas E. Long acquired 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $58.78 per share, with a total value of $117,560.00. Following the completion of the purchase, the director now directly owns 7,542 shares in the company, valued at approximately $443,318.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings acquired 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $19.93 per share, for a total transaction of $79,720.00. Following the purchase, the director now owns 131,706 shares of the company's stock, valued at approximately $2,624,900.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,000 shares of company stock valued at $422,650. 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.