Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) – Stock analysts at Jefferies Financial Group reduced their Q2 2023 earnings estimates for Texas Capital Bancshares in a research report issued on Wednesday, July 27th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $0.87 per share for the quarter, down from their prior forecast of $0.90. The consensus estimate for Texas Capital Bancshares’ current full-year earnings is $3.48 per share. Jefferies Financial Group also issued estimates for Texas Capital Bancshares’ Q4 2023 earnings at $1.01 EPS and FY2023 earnings at $3.75 EPS.
TCBI has been the subject of several other reports. Stephens lifted their target price on shares of Texas Capital Bancshares to $66.00 in a report on Friday, July 22nd. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday. TheStreet cut Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, April 21st. Wedbush upped their price target on Texas Capital Bancshares to $60.00 in a report on Monday, July 25th. Finally, Raymond James raised Texas Capital Bancshares from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective on the stock in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $63.67.
Texas Capital Bancshares Trading Up 2.5 %
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last issued its earnings results on Thursday, July 21st. The bank reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.15). Texas Capital Bancshares had a return on equity of 6.48% and a net margin of 18.42%. During the same period in the previous year, the company posted $1.31 earnings per share.
Institutional Investors Weigh In On Texas Capital Bancshares
Large investors have recently made changes to their positions in the stock. Quent Capital LLC lifted its position in Texas Capital Bancshares by 157.5% during the first quarter. Quent Capital LLC now owns 837 shares of the bank’s stock worth $48,000 after buying an additional 512 shares in the last quarter. Exane Derivatives purchased a new position in shares of Texas Capital Bancshares during the 1st quarter worth $108,000. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Texas Capital Bancshares during the 1st quarter valued at about $115,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Texas Capital Bancshares during the 1st quarter valued at about $210,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Texas Capital Bancshares by 80.3% in the first quarter. Point72 Hong Kong Ltd now owns 3,895 shares of the bank’s stock valued at $223,000 after purchasing an additional 1,735 shares during the period. 97.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Robert W. Stallings bought 42,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were acquired at an average price of $56.57 per share, for a total transaction of $2,375,940.00. Following the completion of the transaction, the director now directly owns 111,725 shares in the company, valued at approximately $6,320,283.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $100,500.00. Following the completion of the transaction, the director now owns 46,810 shares of the company’s stock, valued at approximately $2,352,202.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Stallings acquired 42,000 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was acquired at an average price of $56.57 per share, with a total value of $2,375,940.00. Following the acquisition, the director now owns 111,725 shares in the company, valued at approximately $6,320,283.25. The disclosure for this purchase can be found here. In the last three months, insiders have bought 50,430 shares of company stock worth $2,756,672. Insiders own 0.56% of the company’s stock.
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, and wealth management services.
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