FY2021 EPS estimates for Texas Capital Bancshares, Inc. (NASDAQ: TCBI) lowered by analyst
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) – Investment analysts at Wedbush dropped their estimates of FY2021 EPS for shares of Texas Capital Bancshares in a report released on Friday, September 17. Wedbush analyst P. Winter now predicts the bank will post earnings per share of $ 4.87 for the year, down from its previous estimate of $ 4.88. Wedbush has a “Neutral” rating on the stock. Wedbush also released estimates for Texas Capital Bancshares’ fourth quarter 2021 earnings at $ 1.10 per share, first quarter 2022 earnings at $ 0.89 per share, and fiscal 2023 earnings at 3.78. $ per share.
TCBI has been the subject of a number of other reports. Janney Montgomery Scott demoted Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, September 2. Raymond James lowered his price target on Texas Capital Bancshares from $ 78.00 to $ 75 and set an “outperform” rating for the company in a research note on Thursday, September 2. They noted that the move was an appraisal call. Stephens lowered his price target on Texas Capital Bancshares from $ 77.00 to $ 75 and set an “overweight” rating for the company in a research note on Thursday, July 22. Piper Sandler downgraded Texas Capital Bancshares from “neutral” to “overweight” and set a price target of $ 75.00 on the stock in a research note on Thursday, July 22. Finally, Hovde Group downgraded Texas Capital Bancshares shares from an “outperformance” rating to a “market performance” rating in a research note on Thursday, September 2. A stock research analyst rated the stock with a sell rating, six assigned a conservation rating, and six issued a buy rating for the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $ 72.36.
TCBI opened at $ 56.46 on Monday. The company has a 50-day moving average price of $ 62.77 and a 200-day moving average price of $ 67.78. The company has a quick ratio of 1.09, a current ratio of 1.09, and a debt ratio of 1.04. The company has a market cap of $ 2.86 billion, a PE ratio of 11.62 and a beta of 1.85. Texas Capital Bancshares has a 52 week low of $ 29.44 and a 52 week high of $ 93.26. Texas Capital Bancshares (NASDAQ: TCBI) last released its quarterly earnings data on Tuesday, July 20. The bank announced EPS of $ 1.31 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.21 by $ 0.10. The company posted revenue of $ 227.10 million in the quarter, compared to a consensus estimate of $ 240.67 million. Texas Capital Bancshares recorded a return on equity of 9.64% and a net margin of 23.37%. The company’s turnover is down 19.3% compared to the same quarter last year. During the same period of the previous year, the company made EPS of $ 0.82.
Several institutional investors have recently increased or reduced their holdings in TCBI. Sowell Financial Services LLC increased its stake in the shares of Texas Capital Bancshares by 17,450.0% during the 1st quarter. Sowell Financial Services LLC now owns 351 shares of the bank valued at $ 25,000 after purchasing 349 additional shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Texas Capital Bancshares during the second quarter valued at $ 34,000. Rockefeller Capital Management LP increased its stake in Texas Capital Bancshares by 128.2% during the second quarter. Rockefeller Capital Management LP now owns 785 shares of the bank valued at $ 49,000 after purchasing an additional 441 shares during the period. Hanseatic Management Services Inc. purchased a new position in Texas Capital Bancshares during the first quarter valued at $ 61,000. Finally, TCTC Holdings LLC purchased a new equity stake in Texas Capital Bancshares during the first quarter valued at $ 71,000. 95.81% of the shares are currently held by hedge funds and other institutional investors.
Meanwhile, CEO Rob C. Holmes bought 8,308 shares of Texas Capital Bancshares in a trade on Friday, September 3. The stock was purchased at an average price of $ 60.29 per share, for a total value of $ 500,889.32. As a result of the transaction, the CEO now directly owns 265,029 shares of the company, valued at approximately $ 15,978,598.41. The acquisition has been disclosed in a legal file with the SEC, which is available at the SEC website. In addition, insider Timothy J. Storms purchased 4,173 shares of Texas Capital Bancshares in a trade dated Thursday, September 2. The shares were purchased at an average cost of $ 59.83 per share, for a total transaction of $ 249,670.59. Following the completion of the acquisition, the insider now owns 7,717 shares of the company, valued at approximately $ 461,708.11. Disclosure of this purchase can be found here. 0.64% of the shares are held by insiders.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc. is the holding company of Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial checking accounts, safe deposit boxes, cash concentration accounts and other cash management services, including an online 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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