Truist Securiti Weighs in on Texas Capital Bancshares Inc’s Q3 2020 Earnings (NASDAQ:TCBI)

Texas Capital Bancshares Inc (NASDAQ:TCBI) – Investment analysts at Truist Securiti raised their Q3 2020 earnings estimates for Texas Capital Bancshares in a research report issued on Monday, September 14th. Truist Securiti analyst J. Demba now expects that the bank will earn $0.43 per share for the quarter, up from their prior forecast of $0.11. Truist Securiti also issued estimates for Texas Capital Bancshares’ Q4 2020 earnings at $0.94 EPS, FY2020 earnings at $1.53 EPS, Q1 2021 earnings at $0.77 EPS, Q2 2021 earnings at $0.89 EPS, Q3 2021 earnings at $0.91 EPS, Q4 2021 earnings at $0.96 EPS and FY2021 earnings at $3.53 EPS.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.89). Texas Capital Bancshares had a return on equity of 6.68% and a net margin of 8.10%. The business had revenue of $280.43 million during the quarter, compared to analyst estimates of $235.15 million.

TCBI has been the subject of several other research reports. Wedbush dropped their price objective on shares of Texas Capital Bancshares from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lowered shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $46.50 to $38.00 in a report on Tuesday, May 26th. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group began coverage on shares of Texas Capital Bancshares in a report on Tuesday, June 2nd. They set a “hold” rating and a $30.00 price target for the company. Finally, ValuEngine lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.54.

Texas Capital Bancshares stock opened at $32.50 on Wednesday. Texas Capital Bancshares has a 52-week low of $19.10 and a 52-week high of $64.88. The firm has a fifty day moving average of $33.34 and a 200-day moving average of $30.25. The firm has a market capitalization of $1.64 billion, a P/E ratio of 16.17, a PEG ratio of 2.76 and a beta of 2.16. The company has a quick ratio of 1.18, a current ratio of 1.19 and a debt-to-equity ratio of 1.20.

In related news, CEO Larry L. Helm acquired 30,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $33.12 per share, for a total transaction of $993,600.00. Following the purchase, the chief executive officer now directly owns 54,076 shares of the company’s stock, valued at approximately $1,790,997.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Texas Capital Bancshares by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,876,485 shares of the bank’s stock worth $150,537,000 after buying an additional 136,656 shares during the last quarter. Morgan Stanley increased its stake in Texas Capital Bancshares by 134.7% during the 1st quarter. Morgan Stanley now owns 1,861,764 shares of the bank’s stock valued at $41,274,000 after buying an additional 1,068,440 shares during the period. Wellington Management Group LLP acquired a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $18,221,000. Neuberger Berman Group LLC grew its stake in shares of Texas Capital Bancshares by 63.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 764,010 shares of the bank’s stock worth $23,558,000 after purchasing an additional 296,514 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Texas Capital Bancshares by 812.5% in the 2nd quarter. UBS Group AG now owns 635,544 shares of the bank’s stock worth $19,620,000 after purchasing an additional 565,892 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.

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.

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

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