FY2024 Earnings Estimate for Texas Capital Bancshares, Inc. Issued By Wedbush (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Analysts at Wedbush reduced their FY2024 EPS estimates for shares of Texas Capital Bancshares in a research note issued to investors on Monday, June 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $3.45 per share for the year, down from their previous forecast of $3.65. Wedbush has a “Neutral” rating and a $61.00 price target on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.50 per share. Wedbush also issued estimates for Texas Capital Bancshares’ Q4 2024 earnings at $1.05 EPS, Q2 2025 earnings at $0.99 EPS and Q4 2025 earnings at $1.29 EPS.

Several other research firms also recently commented on TCBI. Hovde Group cut their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Truist Financial decreased their price objective on Texas Capital Bancshares from $66.00 to $61.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lowered 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. Citigroup reduced their price target on Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $58.90 on Wednesday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.45 and a beta of 1.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $59.30 and its 200-day moving average price is $60.12. Texas Capital Bancshares has a 12 month low of $49.13 and a 12 month high of $66.18.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, beating 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 company had revenue of $256.33 million for the quarter, compared to the consensus estimate of $253.27 million.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 3,000 shares of Texas Capital Bancshares stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $19.50 per share, for a total transaction of $58,500.00. Following the purchase, the director now directly owns 156,706 shares in the company, valued at approximately $3,055,767. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert W. Stallings purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $19.50 per share, with a total value of $58,500.00. Following the purchase, the director now owns 156,706 shares in the company, valued at $3,055,767. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction 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 directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 15,004 shares of company stock valued at $292,878. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in Texas Capital Bancshares by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after purchasing an additional 175 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Texas Capital Bancshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after buying an additional 208 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after acquiring an additional 344 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after acquiring an additional 476 shares during the last quarter. Finally, CWM LLC lifted its holdings in Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.