Texas Capital Bancshares Inc (NASDAQ:TCBI) – Wedbush lowered their Q1 2019 earnings per share estimates for shares of Texas Capital Bancshares in a research report issued on Wednesday, March 27th, according to Zacks Investment Research. Wedbush analyst P. Winter now forecasts that the bank will post earnings per share of $1.31 for the quarter, down from their previous estimate of $1.48. Wedbush currently has a “Neutral” rating and a $65.00 target price on the stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q2 2019 earnings at $1.51 EPS, Q4 2019 earnings at $1.62 EPS, FY2019 earnings at $6.18 EPS and FY2020 earnings at $6.41 EPS.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, April 17th. The bank reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.26. The business had revenue of $265.63 million for the quarter, compared to analysts’ expectations of $253.83 million. Texas Capital Bancshares had a return on equity of 13.37% and a net margin of 23.36%. During the same quarter in the prior year, the firm earned $1.38 earnings per share.
TCBI traded up $4.14 during trading on Thursday, reaching $62.63. The stock had a trading volume of 2,033,863 shares, compared to its average volume of 970,185. The stock has a market cap of $3.15 billion, a PE ratio of 10.82, a P/E/G ratio of 0.97 and a beta of 1.77. The company has a quick ratio of 1.23, a current ratio of 1.30 and a debt-to-equity ratio of 1.64. Texas Capital Bancshares has a one year low of $47.86 and a one year high of $103.05.
Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank purchased a new stake in Texas Capital Bancshares in the fourth quarter worth about $74,000. Advisory Research Inc. lifted its holdings in shares of Texas Capital Bancshares by 19.1% during the third quarter. Advisory Research Inc. now owns 434,772 shares of the bank’s stock valued at $35,934,000 after purchasing an additional 69,690 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $2,656,000. Context BH Capital Management LP purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $12,423,000. Finally, Basswood Capital Management L.L.C. purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $18,753,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
In related news, Director Ian J. Turpin sold 1,294 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $60.72, for a total value of $78,571.68. Following the sale, the director now directly owns 8,102 shares of the company’s stock, valued at $491,953.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steve Rosenberg sold 2,305 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $61.31, for a total value of $141,319.55. Following the completion of the sale, the director now directly owns 35,008 shares in the company, valued at $2,146,340.48. The disclosure for this sale can be found here. 0.54% 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, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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