Wall Street brokerages expect that Texas Capital Bancshares Inc (NASDAQ:TCBI) will post $225.18 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Texas Capital Bancshares’ earnings. The highest sales estimate is $229.50 million and the lowest is $220.10 million. Texas Capital Bancshares posted sales of $180.47 million during the same quarter last year, which would indicate a positive year over year growth rate of 24.8%. The company is expected to announce its next earnings results on Wednesday, April 18th.
On average, analysts expect that Texas Capital Bancshares will report full year sales of $225.18 million for the current financial year, with estimates ranging from $952.70 million to $992.30 million. For the next year, analysts anticipate that the business will report sales of $1.08 billion per share, with estimates ranging from $1.05 billion to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.03. The business had revenue of $230.02 million during the quarter, compared to the consensus estimate of $219.78 million. Texas Capital Bancshares had a net margin of 20.67% and a return on equity of 10.85%. During the same period in the previous year, the firm posted $0.96 earnings per share.
A number of brokerages have recently commented on TCBI. BidaskClub downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Barclays reiterated a “neutral” rating and set a $104.00 price target (up from $90.00) on shares of Texas Capital Bancshares in a report on Friday, January 26th. DA Davidson lifted their price target on shares of Texas Capital Bancshares to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Bank of America lifted their price target on shares of Texas Capital Bancshares from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $98.00 price target on shares of Texas Capital Bancshares in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $98.75.
Shares of Texas Capital Bancshares (TCBI) traded down $0.20 during midday trading on Thursday, hitting $90.05. 199,512 shares of the stock were exchanged, compared to its average volume of 506,732. The stock has a market capitalization of $4,470.00, a P/E ratio of 24.14, a PEG ratio of 1.23 and a beta of 1.77. Texas Capital Bancshares has a 1-year low of $69.65 and a 1-year high of $102.90. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.
In related news, CEO C Keith Cargill bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $90.60 per share, for a total transaction of $181,200.00. Following the completion of the acquisition, the chief executive officer now owns 82,286 shares in the company, valued at $7,455,111.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $101,000. Rehmann Capital Advisory Group purchased a new stake in Texas Capital Bancshares in the third quarter valued at approximately $201,000. Cubist Systematic Strategies LLC purchased a new stake in Texas Capital Bancshares in the second quarter valued at approximately $201,000. Signature Financial Management Inc. acquired a new position in Texas Capital Bancshares during the third quarter valued at approximately $215,000. Finally, Legato Capital Management LLC acquired a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $227,000.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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