Q3 2019 EPS Estimates for Texas Capital Bancshares Inc Raised by Wedbush (TCBI)

Texas Capital Bancshares Inc (NASDAQ:TCBI) – Wedbush increased their Q3 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 $1.74 for the quarter, up from their previous estimate of $1.73. Wedbush currently has a “Neutral” rating and a $65.00 target price on the stock.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, April 17th. The bank reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.26. The company had revenue of $265.63 million during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.38 earnings per share.

Several other equities analysts have also issued reports on the company. Stephens reaffirmed a “hold” rating on shares of Texas Capital Bancshares in a report on Thursday. Compass Point downgraded Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 price objective on the stock. in a research note on Thursday. Zacks Investment Research downgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. Barclays upgraded Texas Capital Bancshares from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective on the stock in a research note on Thursday, January 10th. Finally, Jefferies Financial Group downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $87.75.

Shares of TCBI stock traded up $4.14 during trading on Friday, hitting $62.63. The company’s stock had a trading volume of 2,033,863 shares, compared to its average volume of 970,185. The firm 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 52 week low of $47.86 and a 52 week high of $103.05.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BTIM Corp. grew its stake in shares of Texas Capital Bancshares by 40.7% in the first quarter. BTIM Corp. now owns 271,406 shares of the bank’s stock worth $14,816,000 after purchasing an additional 78,509 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in Texas Capital Bancshares in the first quarter worth about $4,361,000. Quantitative Systematic Strategies LLC purchased a new stake in Texas Capital Bancshares in the first quarter worth about $567,000. Retirement Systems of Alabama lifted its holdings in Texas Capital Bancshares by 0.5% in the first quarter. Retirement Systems of Alabama now owns 65,400 shares of the bank’s stock worth $3,570,000 after buying an additional 335 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Texas Capital Bancshares by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the bank’s stock worth $737,000 after buying an additional 200 shares during the period. 98.50% of the stock is currently owned by institutional investors.

In other news, 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 transaction of $141,319.55. Following the transaction, the director now directly owns 35,008 shares of the company’s stock, valued at $2,146,340.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian J. Turpin sold 1,294 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $60.72, for a total value of $78,571.68. Following the transaction, the director now directly owns 8,102 shares in the company, valued at $491,953.44. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

About Texas Capital Bancshares

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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Earnings History and Estimates for Texas Capital Bancshares (NASDAQ:TCBI)

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