Equities research analysts expect that Texas Capital Bancshares Inc (NASDAQ:TCBI) will report sales of $240.80 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Texas Capital Bancshares’ earnings. The highest sales estimate is $244.50 million and the lowest is $236.60 million. Texas Capital Bancshares reported sales of $201.73 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.4%. The firm is scheduled to issue its next earnings report on Wednesday, July 18th.
On average, analysts expect that Texas Capital Bancshares will report full year sales of $981.20 million for the current fiscal year, with estimates ranging from $967.60 million to $992.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.08 billion per share, with estimates ranging from $1.05 billion to $1.11 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, April 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Texas Capital Bancshares had a net margin of 22.07% and a return on equity of 12.00%. The business had revenue of $230.25 million during the quarter, compared to the consensus estimate of $225.43 million. During the same period last year, the business posted $0.80 EPS.
Several brokerages recently issued reports on TCBI. ValuEngine upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. DA Davidson raised their target price on shares of Texas Capital Bancshares to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Bank of America increased their price target on shares of Texas Capital Bancshares from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $98.00 price target on shares of Texas Capital Bancshares in a report on Thursday, January 25th. Finally, Jefferies Group reissued a “buy” rating on shares of Texas Capital Bancshares in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.04.
Shares of NASDAQ:TCBI opened at $101.55 on Tuesday. Texas Capital Bancshares has a 52-week low of $69.65 and a 52-week high of $103.05. The stock has a market capitalization of $4.92 billion, a P/E ratio of 24.89, a PEG ratio of 1.34 and a beta of 1.76. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 1.20.
In other news, Director Ian J. Turpin sold 1,186 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total transaction of $106,206.30. Following the transaction, the director now directly owns 9,491 shares of the company’s stock, valued at $849,919.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Texas Capital Bancshares by 2.5% in the first quarter. Principal Financial Group Inc. now owns 215,393 shares of the bank’s stock valued at $19,363,000 after acquiring an additional 5,306 shares during the last quarter. WINTON GROUP Ltd bought a new position in Texas Capital Bancshares in the first quarter valued at approximately $250,000. Xact Kapitalforvaltning AB increased its stake in Texas Capital Bancshares by 33.9% in the first quarter. Xact Kapitalforvaltning AB now owns 6,323 shares of the bank’s stock valued at $568,000 after acquiring an additional 1,600 shares during the last quarter. Legal & General Group Plc increased its stake in Texas Capital Bancshares by 4.5% in the first quarter. Legal & General Group Plc now owns 60,168 shares of the bank’s stock valued at $5,409,000 after acquiring an additional 2,566 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Texas Capital Bancshares by 94.1% in the first quarter. Millennium Management LLC now owns 16,411 shares of the bank’s stock valued at $1,475,000 after acquiring an additional 7,955 shares during the last quarter.
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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