Q1 2024 Earnings Forecast for Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Issued By Wedbush

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Equities research analysts at Wedbush upped their Q1 2024 EPS estimates for shares of Texas Capital Bancshares in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $0.53 per share for the quarter, up from their previous estimate of $0.36. Wedbush has a “Neutral” rating and a $68.00 price objective on the stock. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.67 per share. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $1.05 EPS and FY2024 earnings at $3.65 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.24). Texas Capital Bancshares had a net margin of 10.56% and a return on equity of 7.28%. The firm had revenue of $245.85 million for the quarter, compared to analysts’ expectations of $251.96 million. During the same period last year, the company posted $0.87 earnings per share.

Other analysts also recently issued reports about the stock. Raymond James increased their price objective on shares of Texas Capital Bancshares from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Barclays began coverage on shares of Texas Capital Bancshares in a research note on Friday, March 8th. They issued an “underweight” rating and a $47.00 price objective on the stock. UBS Group increased their price objective 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. Citigroup lowered their price objective on shares of Texas Capital Bancshares from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Finally, Truist Financial increased their price objective on shares of Texas Capital Bancshares from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $64.50.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $61.55 on Friday. Texas Capital Bancshares has a one year low of $42.79 and a one year high of $66.18. The company’s 50-day moving average is $60.02 and its 200 day moving average is $59.25. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Activity

In related news, Director Robert W. Stallings acquired 6,000 shares of Texas Capital Bancshares stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $18.64 per share, for a total transaction of $111,840.00. Following the completion of the transaction, the director now directly owns 146,706 shares in the company, valued at approximately $2,734,599.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings acquired 5,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was bought at an average cost of $19.09 per share, with a total value of $95,450.00. Following the completion of the purchase, the director now directly owns 117,706 shares of the company’s stock, valued at $2,247,007.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings acquired 6,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $18.64 per share, with a total value of $111,840.00. Following the completion of the purchase, the director now directly owns 146,706 shares of the company’s stock, valued at $2,734,599.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 28,000 shares of company stock worth $612,850 over the last quarter. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TCBI. BlackRock Inc. boosted its stake in shares of Texas Capital Bancshares by 0.7% during the second quarter. BlackRock Inc. now owns 5,784,573 shares of the bank’s stock valued at $297,906,000 after purchasing an additional 39,338 shares during the period. Vanguard Group Inc. raised its holdings in Texas Capital Bancshares by 1.4% in the fourth 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. T. Rowe Price Investment Management Inc. raised its holdings in Texas Capital Bancshares by 26.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,633,859 shares of the bank’s stock worth $219,159,000 after purchasing an additional 762,038 shares in the last quarter. State Street Corp raised its holdings in Texas Capital Bancshares by 5.1% in the first quarter. State Street Corp now owns 3,268,391 shares of the bank’s stock worth $187,311,000 after purchasing an additional 158,815 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Texas Capital Bancshares by 2.5% in the fourth 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. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.