Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) – Jefferies Financial Group reduced its earnings per share estimate for the third quarter of 2022 for shares of Texas Capital Bancshares in a report released Wednesday, April 27. Jefferies Financial Group analyst C. Haire now expects the bank to post earnings of $0.91 per share for the quarter, down from its previous forecast of $0.92. Jefferies Financial Group also released estimates for Texas Capital Bancshares Q4 2022 earnings at $0.86 EPS, FY2022 earnings at $3.20 EPS, Q1 2023 earnings at $0.94 EPS , 2023 Q2 earnings at $0.98 EPS, 2023 Q3 earnings at $0.92 EPS, 2023 Q4 earnings at $0.84 EPS, and 2023 fiscal year earnings at $3.65 EPS. 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 the consensus estimate of $0.73 per ($0.04). The company posted revenue of $203.83 million in the quarter, compared to $213.06 million expected by analysts. Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The company’s revenues were down 14.8% from the same quarter last year. In the same quarter last year, the company achieved EPS of $1.33.
A number of other stock analysts have also recently commented on the company. TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research report. StockNews.com upgraded Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 research note. Raymond James cut his target price on Texas Capital Bancshares from $75.00 to $70.00 and set an “outperform” rating for the company in a Friday, Jan. 21 research note. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a target price of $58.00 for the company in a Wednesday, April 13 research note. Finally, Bank of America reissued a “neutral” rating and set a target price of $69.00 on shares of Texas Capital Bancshares in a Tuesday, January 18 research note. One research analyst rated the stock with a sell rating, five gave the company a hold rating and five gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.35.
Shares of Texas Capital Bancshares opened at $51.36 on Monday. Texas Capital Bancshares has a one-year low of $51.07 and a one-year high of $71.68. The company has a market capitalization of $2.61 billion, a price/earnings ratio of 13.00, a PEG ratio of 2.05 and a beta of 1.64. The company has a debt ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day moving average price is $59.06 and its 200-day moving average price is $61.08.
In related news, manager Robert W. Stallings bought 8,000 shares in a trade that took place on Monday, April 25. The shares were purchased at an average cost of $52.65 per share, with a total value of $421,200.00. Following the purchase, the director now directly owns 44,810 shares of the company, valued at approximately $2,359,246.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, manager Robert W. Stallings purchased 3,000 shares in a trade that took place on Thursday, April 28. The shares were purchased at an average cost of $52.00 per share, with a total value of $156,000.00. Following the completion of the purchase, the administrator now directly owns 68,652 shares of the company, valued at $3,569,904. Disclosure of this purchase can be found here. Insiders own 0.56% of the shares of the company.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Granahan Investment Management Inc. MA increased its stake in Texas Capital Bancshares by 33.0% during the third quarter. Granahan Investment Management Inc. MA now owns 327,004 shares of the bank worth $19,627,000 after buying an additional 81,057 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Texas Capital Bancshares during Q3 for approximately $21,665,000. Allianz Asset Management GmbH increased its stake in Texas Capital Bancshares by 4.3% during the third quarter. Allianz Asset Management GmbH now owns 12,820 shares in the bank worth $769,000 after buying an additional 527 shares in the last quarter. New Jersey State Joint Pension Fund D increased its holdings in Texas Capital Bancshares by 16.2% during the 4th quarter. New Jersey State Joint Pension Fund D now owns 48,308 shares of the bank worth $2,911,000 after buying 6,748 more shares in the last quarter. Finally, Duality Advisers LP increased its stake in Texas Capital Bancshares by 470.4% during the third quarter. Duality Advisers LP now owns 57,629 shares of the bank worth $3,459,000 after purchasing an additional 47,526 shares in the last quarter. 94.32% of the shares are held by hedge funds and other institutional investors.
About Texas Capital Bancshares (Get a rating)
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.
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