FY2019 EPS Estimates for Texas Capital Bancshares Inc Boosted by Analyst (NASDAQ:TCBI)

Texas Capital Bancshares Inc (NASDAQ:TCBI) – Research analysts at SunTrust Banks boosted their FY2019 earnings estimates for Texas Capital Bancshares in a research report issued on Wednesday, October 16th. SunTrust Banks analyst J. Demba now expects that the bank will post earnings per share of $6.43 for the year, up from their previous estimate of $5.80. SunTrust Banks currently has a “Hold” rating and a $58.00 target price on the stock. SunTrust Banks also issued estimates for Texas Capital Bancshares’ Q4 2019 earnings at $1.64 EPS, Q1 2020 earnings at $1.28 EPS, Q2 2020 earnings at $1.50 EPS, Q3 2020 earnings at $1.49 EPS, Q4 2020 earnings at $1.47 EPS, FY2020 earnings at $5.74 EPS, Q1 2021 earnings at $1.37 EPS, Q2 2021 earnings at $1.54 EPS, Q3 2021 earnings at $1.62 EPS and FY2021 earnings at $6.17 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.21. The firm had revenue of $272.47 million during the quarter, compared to analysts’ expectations of $262.12 million. Texas Capital Bancshares had a return on equity of 12.95% and a net margin of 22.29%. During the same period in the previous year, the business posted $1.65 EPS.

Other analysts have also recently issued reports about the company. TheStreet cut Texas Capital Bancshares from a “b-” rating to a “c+” rating in a report on Friday, August 30th. Raymond James cut Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, August 29th. UBS Group cut Texas Capital Bancshares from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $62.00 to $52.00 in a report on Monday, August 5th. BidaskClub raised Texas Capital Bancshares from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a $58.00 price objective for the company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $59.89.

Shares of NASDAQ:TCBI opened at $55.51 on Monday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.13 and a beta of 1.88. Texas Capital Bancshares has a 1-year low of $47.86 and a 1-year high of $67.14. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $54.45 and a two-hundred day moving average price of $58.37.

Hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Texas Capital Bancshares by 2.2% in the 2nd quarter. Swiss National Bank now owns 93,450 shares of the bank’s stock valued at $5,735,000 after acquiring an additional 2,000 shares during the last quarter. Context BH Capital Management LP grew its position in shares of Texas Capital Bancshares by 2.3% in the 2nd quarter. Context BH Capital Management LP now owns 268,371 shares of the bank’s stock valued at $16,470,000 after purchasing an additional 6,000 shares during the period. Fisher Asset Management LLC grew its position in shares of Texas Capital Bancshares by 0.3% in the 2nd quarter. Fisher Asset Management LLC now owns 248,736 shares of the bank’s stock valued at $15,265,000 after purchasing an additional 814 shares during the period. HighTower Advisors LLC grew its position in shares of Texas Capital Bancshares by 233.2% in the 2nd quarter. HighTower Advisors LLC now owns 32,040 shares of the bank’s stock valued at $1,967,000 after purchasing an additional 22,425 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Texas Capital Bancshares by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 251,877 shares of the bank’s stock valued at $15,458,000 after purchasing an additional 9,454 shares during the period. 95.35% of the stock is owned by institutional investors.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

Further Reading: Diluted Earnings Per Share

Earnings History and Estimates for Texas Capital Bancshares (NASDAQ:TCBI)

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