Texas Capital Bancshares (NASDAQ:TCBI) Posts Earnings Results

Texas Capital Bancshares (NASDAQ:TCBI) issued its earnings results on Thursday. The bank reported $2.08 EPS for the quarter, beating the consensus estimate of $1.78 by $0.30, FiscalAI reports. The company had revenue of $327.48 million for the quarter, compared to the consensus estimate of $324.09 million. Texas Capital Bancshares had a net margin of 15.14% and a return on equity of 9.51%.

Texas Capital Bancshares Stock Performance

TCBI stock opened at $102.28 on Thursday. The company has a 50 day moving average price of $92.80 and a 200 day moving average price of $87.76. Texas Capital Bancshares has a fifty-two week low of $59.37 and a fifty-two week high of $102.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $4.67 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.69 and a beta of 0.67.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 5,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $20.68 per share, for a total transaction of $103,400.00. Following the completion of the transaction, the director directly owned 275,913 shares in the company, valued at $5,705,880.84. The trade was a 1.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Texas Capital Bancshares in the third quarter worth about $25,000. Advisory Services Network LLC bought a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $32,000. Caitong International Asset Management Co. Ltd grew its position in shares of Texas Capital Bancshares by 793.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 536 shares of the bank’s stock worth $45,000 after buying an additional 476 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Texas Capital Bancshares by 452.6% during the second quarter. EverSource Wealth Advisors LLC now owns 746 shares of the bank’s stock worth $59,000 after buying an additional 611 shares during the last quarter. Finally, Quarry LP acquired a new position in Texas Capital Bancshares in the third quarter valued at approximately $65,000. Institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TCBI shares. Piper Sandler boosted their price target on shares of Texas Capital Bancshares from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Zacks Research cut shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their price target on Texas Capital Bancshares from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 16th. Raymond James Financial raised their price target on Texas Capital Bancshares from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Finally, Hovde Group boosted their price objective on Texas Capital Bancshares from $85.00 to $93.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.09.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.