FY2024 EPS Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Lifted by Analyst

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

A number of other equities analysts also recently weighed in on TCBI. Mizuho reaffirmed a “hold” rating and set a $66.00 price target (down previously from $72.00) on shares of Texas Capital Bancshares in a research note on Monday, April 1st. Royal Bank of Canada cut 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 research note on Tuesday, April 9th. Barclays started coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They set an “underweight” rating and a $47.00 price target on the stock. UBS Group increased their price target on shares of Texas Capital Bancshares from $56.00 to $57.00 and gave the stock a “sell” rating in a research note on Tuesday, January 23rd. Finally, Stephens cut their price target on shares of Texas Capital Bancshares from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.58.

Texas Capital Bancshares Stock Performance

Shares of TCBI opened at $60.12 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. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.11 and a beta of 1.19. The company’s 50 day simple moving average is $59.01 and its 200 day simple moving average is $59.05. Texas Capital Bancshares has a 1 year low of $42.79 and a 1 year high of $66.18.

Insider Activity

In other Texas Capital Bancshares news, Director Thomas E. Long purchased 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $58.78 per share, with a total value of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares of the company’s stock, valued at approximately $443,318.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert W. Stallings bought 5,000 shares of Texas Capital Bancshares stock in a transaction on Friday, February 2nd. The shares were bought at an average price of $18.81 per share, with a total value of $94,050.00. Following the acquisition, the director now directly owns 140,706 shares in the company, valued at approximately $2,646,679.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 cost of $58.78 per share, for a total transaction of $117,560.00. Following the acquisition, the director now owns 7,542 shares in the company, valued at $443,318.76. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,000 shares of company stock worth $422,650. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds have recently modified their holdings of TCBI. SG Americas Securities LLC increased its position in shares of Texas Capital Bancshares by 17.5% during the 3rd quarter. SG Americas Securities LLC now owns 46,204 shares of the bank’s stock valued at $2,721,000 after purchasing an additional 6,879 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at $47,000. Raymond James & Associates acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at $1,138,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Texas Capital Bancshares during the 3rd quarter valued at $572,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Texas Capital Bancshares by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,291,087 shares of the bank’s stock worth $76,045,000 after acquiring an additional 4,210 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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.