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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Stock analysts at Wedbush lifted their Q1 2024 earnings estimates for Texas Capital Bancshares in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.53 per share for the quarter, up from their prior estimate of $0.36. Wedbush currently has a “Neutral” rating and a $68.00 target price 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.

TCBI has been the subject of several other research reports. 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 report on Tuesday, January 23rd. Truist Financial upped 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. Barclays initiated 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 objective on the stock. Stephens upped their price objective on shares of Texas Capital Bancshares from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Finally, Raymond James upped their price objective on shares of Texas Capital Bancshares from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $64.50.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI opened at $61.55 on Friday. Texas Capital Bancshares has a 12-month low of $42.79 and a 12-month high of $66.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.92 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The firm has a 50-day moving average price of $60.02 and a 200 day moving average price of $59.25.

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

Institutional Investors Weigh In On Texas Capital Bancshares

Several hedge funds have recently bought and sold shares of TCBI. Wellington Management Group LLP raised its holdings in shares of Texas Capital Bancshares by 78.0% during the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after acquiring an additional 245,074 shares during the period. Walleye Capital LLC raised its holdings in shares of Texas Capital Bancshares by 63.9% during the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock worth $10,267,000 after acquiring an additional 67,964 shares during the period. New York State Common Retirement Fund raised its holdings in shares of 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 worth $8,884,000 after acquiring an additional 85,793 shares during the period. First Dallas Securities Inc. acquired a new stake in shares of Texas Capital Bancshares during the third quarter worth $1,178,000. Finally, North Reef Capital Management LP raised its holdings in shares of Texas Capital Bancshares by 99.2% during the third 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 period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 5,000 shares of Texas Capital Bancshares stock in a transaction on Thursday, January 25th. The shares were purchased 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 owns 117,706 shares in the company, valued at $2,247,007.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Thomas E. Long bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost 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 approximately $443,318.76. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was purchased at an average price of $19.09 per share, for a total transaction of $95,450.00. Following the completion of the acquisition, the director now owns 117,706 shares of the company’s stock, valued at approximately $2,247,007.54. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 28,000 shares of company stock valued at $612,850. 0.99% of the stock is currently 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.