Texas Capital Bancshares, Inc. to Post FY2021 Earnings of $4.87 Per Share, Wedbush Forecasts (NASDAQ:TCBI)

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Wedbush reduced their FY2021 earnings per share estimates for shares of Texas Capital Bancshares in a note issued to investors on Friday, September 17th. Wedbush analyst P. Winter now anticipates that the bank will earn $4.87 per share for the year, down from their prior estimate of $4.88. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Texas Capital Bancshares’ Q4 2021 earnings at $1.10 EPS, Q1 2022 earnings at $0.89 EPS and FY2023 earnings at $3.78 EPS.

TCBI has been the topic of a number of other reports. Piper Sandler raised shares of Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research note on Thursday, July 22nd. Janney Montgomery Scott lowered shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, September 2nd. Stephens cut their target price on shares of Texas Capital Bancshares from $77.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, July 22nd. Hovde Group lowered shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 2nd. Finally, Raymond James cut their target price on shares of Texas Capital Bancshares from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, September 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $72.36.

TCBI opened at $55.64 on Monday. Texas Capital Bancshares has a fifty-two week low of $29.44 and a fifty-two week high of $93.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.45 and a beta of 1.85. The company’s 50 day moving average price is $62.58 and its two-hundred day moving average price is $67.61.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Tuesday, July 20th. The bank reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. Texas Capital Bancshares had a net margin of 23.37% and a return on equity of 9.64%. The firm had revenue of $227.10 million for the quarter, compared to analyst estimates of $240.67 million. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was down 19.3% compared to the same quarter last year.

In related news, CEO Rob C. Holmes bought 8,308 shares of the company’s stock in a transaction on Friday, September 3rd. The shares were purchased at an average price of $60.29 per share, for a total transaction of $500,889.32. Following the completion of the transaction, the chief executive officer now directly owns 265,029 shares in the company, valued at approximately $15,978,598.41. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Timothy J. Storms purchased 4,173 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The stock was purchased at an average cost of $59.83 per share, for a total transaction of $249,670.59. Following the acquisition, the insider now owns 7,717 shares of the company’s stock, valued at approximately $461,708.11. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in shares of Texas Capital Bancshares by 178,572.6% in the first quarter. FMR LLC now owns 150,085 shares of the bank’s stock worth $8,194,000 after acquiring an additional 150,001 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Texas Capital Bancshares by 970.2% during the first quarter. Victory Capital Management Inc. now owns 74,187 shares of the bank’s stock valued at $5,262,000 after buying an additional 67,255 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Texas Capital Bancshares by 15.3% during the first quarter. Envestnet Asset Management Inc. now owns 15,440 shares of the bank’s stock valued at $1,095,000 after buying an additional 2,050 shares during the last quarter. Blueshift Asset Management LLC boosted its position in shares of Texas Capital Bancshares by 225.8% during the first quarter. Blueshift Asset Management LLC now owns 13,402 shares of the bank’s stock valued at $950,000 after buying an additional 9,288 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Texas Capital Bancshares by 1.0% in the first quarter. Swiss National Bank now owns 115,350 shares of the bank’s stock valued at $8,181,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the holding company for Texas Capital Bank NA. It provides commercial banking services to its customers in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. The firm loan portfolio comprises of commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial checking accounts, lockbox accounts, cash concentration accounts, and other treasury management services, including an on-line system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.

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

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