Analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to announce $255.03 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Texas Capital Bancshares’ earnings, with the highest sales estimate coming in at $260.10 million and the lowest estimate coming in at $249.30 million. Texas Capital Bancshares posted sales of $230.25 million during the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, April 17th.
On average, analysts expect that Texas Capital Bancshares will report full-year sales of $1.07 billion for the current financial year, with estimates ranging from $1.05 billion to $1.09 billion. For the next year, analysts anticipate that the business will report sales of $1.11 billion, with estimates ranging from $992.90 million to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, January 23rd. The bank reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.21). The business had revenue of $255.95 million for the quarter, compared to the consensus estimate of $253.17 million. Texas Capital Bancshares had a net margin of 24.02% and a return on equity of 13.35%. During the same period in the previous year, the business posted $1.19 EPS.
Several equities analysts recently weighed in on the stock. TheStreet lowered shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research report on Tuesday, November 20th. Wedbush dropped their price target on shares of Texas Capital Bancshares from $93.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, December 6th. Barclays raised shares of Texas Capital Bancshares from an “equal weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a research report on Thursday, January 10th. Zacks Investment Research raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Stephens reissued a “hold” rating and issued a $59.00 price target on shares of Texas Capital Bancshares in a research report on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $90.93.
TCBI traded down $3.04 during midday trading on Wednesday, hitting $55.77. 1,875,400 shares of the company’s stock traded hands, compared to its average volume of 688,665. The firm has a market cap of $3.01 billion, a PE ratio of 9.63, a PEG ratio of 0.91 and a beta of 1.79. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.23 and a current ratio of 1.32. Texas Capital Bancshares has a one year low of $47.86 and a one year high of $103.05.
In other news, Director Ian J. Turpin sold 1,294 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $60.72, for a total value of $78,571.68. Following the sale, the director now owns 8,102 shares in the company, valued at $491,953.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steve Rosenberg sold 2,305 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $61.31, for a total transaction of $141,319.55. Following the completion of the sale, the director now owns 35,008 shares in the company, valued at approximately $2,146,340.48. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Texas Capital Bancshares by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 524,855 shares of the bank’s stock worth $26,814,000 after acquiring an additional 49,522 shares during the last quarter. Norges Bank acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter worth $14,746,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Texas Capital Bancshares by 14.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,336,828 shares of the bank’s stock worth $68,298,000 after acquiring an additional 170,059 shares during the last quarter. Amalgamated Bank grew its stake in shares of Texas Capital Bancshares by 33.3% in the fourth quarter. Amalgamated Bank now owns 11,001 shares of the bank’s stock worth $562,000 after acquiring an additional 2,750 shares during the last quarter. Finally, Context BH Capital Management LP acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter worth $12,423,000. Institutional investors and hedge funds own 97.88% of the company’s stock.
Texas Capital Bancshares Company Profile
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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