$265.95 Million in Sales Expected for Texas Capital Bancshares Inc (NASDAQ:TCBI) This Quarter

Equities research analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to report $265.95 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Texas Capital Bancshares’ earnings, with the lowest sales estimate coming in at $256.10 million and the highest estimate coming in at $275.40 million. Texas Capital Bancshares posted sales of $257.69 million in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 16th.

On average, analysts expect that Texas Capital Bancshares will report full year sales of $1.05 billion for the current year, with estimates ranging from $1.04 billion to $1.06 billion. For the next year, analysts anticipate that the business will report sales of $1.08 billion, with estimates ranging from $1.05 billion to $1.10 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, July 17th. The bank reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). Texas Capital Bancshares had a net margin of 22.88% and a return on equity of 13.29%. The business had revenue of $267.92 million during the quarter, compared to analysts’ expectations of $267.15 million. During the same period last year, the business posted $1.38 earnings per share.

A number of research firms recently weighed in on TCBI. TheStreet raised shares of Texas Capital Bancshares from a “c+” rating to a “b-” rating in a report on Tuesday, April 30th. Zacks Investment Research downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Tuesday, June 11th. Compass Point downgraded Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $58.49 price target for the company. in a research report on Thursday, April 18th. Sanford C. Bernstein upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 28th. Finally, SunTrust Banks downgraded Texas Capital Bancshares from a “buy” rating to a “hold” rating and lowered their price target for the stock from $72.00 to $63.00 in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $66.70.

Shares of TCBI stock traded down $0.43 on Friday, reaching $58.59. The company’s stock had a trading volume of 522,086 shares, compared to its average volume of 724,542. The stock’s fifty day simple moving average is $60.35. Texas Capital Bancshares has a 1 year low of $47.86 and a 1 year high of $94.95. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.26 and a quick ratio of 1.21. The stock has a market capitalization of $2.97 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.94 and a beta of 1.79.

In other Texas Capital Bancshares news, CEO C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $58.83 per share, for a total transaction of $176,490.00. Following the completion of the transaction, the chief executive officer now owns 120,847 shares in the company, valued at $7,109,429.01. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ian J. Turpin sold 3,977 shares of Texas Capital Bancshares stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.59, for a total value of $240,966.43. Following the sale, the director now owns 4,632 shares of the company’s stock, valued at $280,652.88. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC lifted its position in shares of Texas Capital Bancshares by 20.8% during the first quarter. Frontier Capital Management Co. LLC now owns 1,251,651 shares of the bank’s stock worth $68,328,000 after purchasing an additional 215,197 shares during the last quarter. Wasatch Advisors Inc. lifted its position in shares of Texas Capital Bancshares by 16.3% during the first quarter. Wasatch Advisors Inc. now owns 1,056,571 shares of the bank’s stock worth $57,678,000 after purchasing an additional 148,269 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 524,855 shares of the bank’s stock worth $26,814,000 after purchasing an additional 49,522 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Texas Capital Bancshares by 0.7% during the first quarter. Janus Henderson Group PLC now owns 492,869 shares of the bank’s stock worth $26,906,000 after purchasing an additional 3,333 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Texas Capital Bancshares by 0.8% during the fourth quarter. Deutsche Bank AG now owns 354,154 shares of the bank’s stock worth $18,092,000 after purchasing an additional 2,726 shares during the last quarter. Institutional investors and hedge funds own 95.78% 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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