Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) – Equity researchers at Wedbush have cut their fourth quarter 2022 earnings estimates for Texas Capital Bancshares in a research report released to clients and investors on Sunday, April 24 . Wedbush analyst P. Winter now expects the bank to post earnings of $0.91 per share for the quarter, down from its previous forecast of $0.92. Wedbush also released estimates for Texas Capital Bancshares Q1 2023 earnings at $0.83 EPS, Q3 2023 earnings at $1.22 EPS and Q4 2023 earnings at $1.25 EPS.
TCBI has been the subject of a number of other research reports. Raymond James cut his target price on Texas Capital Bancshares from $75.00 to $70.00 and set an “outperform” rating on the stock in a Friday, January 21 report. TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research note. StockNews.com downgraded Texas Capital Bancshares’ rating from a “hold” rating to a “sell” rating in a Thursday, April 14 research note. Bank of America reaffirmed a “neutral” rating and issued a price target of $69.00 on shares of Texas Capital Bancshares in a research note on Tuesday, January 18. Finally, Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a Wednesday, April 13 research note. One research analyst rated the stock with a sell rating, five assigned a hold rating and five assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.35.
TCBI stock opened at $52.09 on Wednesday. Texas Capital Bancshares has a fifty-two week low of $51.07 and a fifty-two week high of $71.68. The company’s 50-day moving average price is $59.89 and its two-hundred-day moving average price is $61.24. The company has a debt ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.02. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.19, a growth price-to-earnings ratio of 1.97 and a beta of 1.64.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported results on Wednesday, April 20. The bank reported earnings per share of $0.69 for the quarter, missing analyst consensus estimates of $0.73 per ($0.04). Texas Capital Bancshares had a return on equity of 7.80% and a net margin of 22.71%. The company posted revenue of $203.83 million for the quarter, compared to $213.06 million expected by analysts. During the same quarter last year, the company posted EPS of $1.33. The company’s revenue was down 14.8% year over year.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in Texas Capital Bancshares by 4,210.0% in Q3. O Shaughnessy Asset Management LLC now owns 431 shares of the bank worth $26,000 after purchasing an additional 421 shares during the period. Dark Forest Capital Management LP increased its position in shares of Texas Capital Bancshares by 17.4% during the third quarter. Dark Forest Capital Management LP now owns 1,394 shares of the bank valued at $84,000 after buying 207 additional shares in the last quarter. Exane Derivatives bought a new position in Texas Capital Bancshares in the first quarter for a value of approximately $108,000. The Public Employees Retirement System of Ohio increased its position in Texas Capital Bancshares by 9.1% in the fourth quarter. The Ohio Public Employees Retirement System now owns 1,867 shares of the bank worth $112,000 after acquiring 156 more shares last quarter. Finally, Profund Advisors LLC increased its position in Texas Capital Bancshares by 5.2% in the fourth quarter. Profund Advisors LLC now owns 3,934 shares of the bank worth $237,000 after acquiring 196 additional shares in the last quarter. 94.32% of the shares are currently held by hedge funds and other institutional investors.
About Texas Capital Bancshares (Get an evaluation)
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
Receive daily news and reviews for Texas Capital Bancshares – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for Texas Capital Bancshares and related companies with MarketBeat.com’s free daily email newsletter.