DA Davidson Analysts Lower Earnings Estimates for Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Equities research analysts at DA Davidson cut their FY2024 earnings per share estimates for Texas Capital Bancshares in a report released on Thursday, April 4th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $3.69 per share for the year, down from their prior estimate of $3.73. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.58 per share. DA Davidson also issued estimates for Texas Capital Bancshares’ FY2025 earnings at $4.14 EPS.

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

TCBI has been the topic of several other reports. Truist Financial cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $72.00 to $66.00 in a research note on Monday, April 1st. Stephens increased their target price on Texas Capital Bancshares from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Barclays initiated coverage on Texas Capital Bancshares in a report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target for the company. Mizuho reissued a “hold” rating and set a $66.00 price objective (down previously from $72.00) on shares of Texas Capital Bancshares in a report on Monday, April 1st. Finally, UBS Group boosted their target price 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.45.

Texas Capital Bancshares Stock Up 0.8 %

Shares of NASDAQ:TCBI opened at $59.87 on Monday. The company has a market capitalization of $2.84 billion, a PE ratio of 16.91, a P/E/G ratio of 2.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average is $59.39 and its 200-day moving average is $59.11. Texas Capital Bancshares has a 52 week low of $42.79 and a 52 week high of $66.18.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TCBI. SummerHaven Investment Management LLC grew its stake in shares of Texas Capital Bancshares by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,134 shares of the bank’s stock worth $849,000 after acquiring an additional 175 shares in the last quarter. FMR LLC raised its holdings in Texas Capital Bancshares by 7.6% during the third quarter. FMR LLC now owns 2,747 shares of the bank’s stock worth $162,000 after acquiring an additional 194 shares in the last quarter. Osaic Holdings Inc. boosted its position in Texas Capital Bancshares by 22.5% during the second quarter. Osaic Holdings Inc. now owns 1,088 shares of the bank’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Texas Capital Bancshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 60,143 shares of the bank’s stock worth $3,887,000 after purchasing an additional 208 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Texas Capital Bancshares by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,049 shares of the bank’s stock valued at $63,000 after buying an additional 210 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Capital Bancshares

In other news, Director Thomas E. Long acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $58.78 per share, for a total transaction of $117,560.00. Following the completion of the acquisition, the director now owns 7,542 shares in the company, valued at $443,318.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert W. Stallings acquired 5,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was bought at an average price of $19.09 per share, with a total value of $95,450.00. Following the completion of the transaction, the director now directly owns 117,706 shares of the company’s stock, valued at $2,247,007.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas E. Long bought 2,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, February 27th. The stock was bought 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 owns 7,542 shares in the company, valued at approximately $443,318.76. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 28,000 shares of company stock worth $612,850. 1.53% of the stock is currently owned by company insiders.

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.