Brokerages Anticipate Texas Capital Bancshares Inc (TCBI) Will Announce Quarterly Sales of $225.18 Million

Equities analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to post sales of $225.18 million for the current fiscal 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 reported sales of $180.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.8%. The company is expected to announce its next quarterly 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 financial year, analysts anticipate that the firm will report sales of $1.08 billion per share, with estimates ranging from $1.05 billion to $1.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.03. Texas Capital Bancshares had a return on equity of 10.85% and a net margin of 20.67%. The business had revenue of $230.02 million during the quarter, compared to analyst estimates of $219.78 million. During the same quarter in the previous year, the firm posted $0.96 EPS.

A number of research analysts recently issued reports on TCBI shares. Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, December 26th. Wedbush upgraded Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $108.00 to $87.00 in a research report on Thursday, December 21st. Barclays set a $87.00 price objective on Texas Capital Bancshares and gave the company a “hold” rating in a research report on Friday, October 20th. Royal Bank of Canada restated a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday, October 20th. Finally, Deutsche Bank boosted their price objective on Texas Capital Bancshares from $93.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.75.

In other Texas Capital Bancshares news, CEO C Keith Cargill purchased 2,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, February 6th. The stock was bought at an average price of $90.60 per share, for a total transaction of $181,200.00. Following the transaction, the chief executive officer now owns 82,286 shares of the company’s stock, valued at approximately $7,455,111.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Texas Capital Bancshares by 1.2% in the 4th quarter. BlackRock Inc. now owns 5,308,145 shares of the bank’s stock worth $471,894,000 after buying an additional 63,941 shares in the last quarter. State Street Corp raised its stake in shares of Texas Capital Bancshares by 14.8% in the 2nd quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock worth $270,711,000 after buying an additional 449,797 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Texas Capital Bancshares by 3.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,438,060 shares of the bank’s stock worth $111,306,000 after buying an additional 50,474 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Texas Capital Bancshares by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,204,593 shares of the bank’s stock worth $107,088,000 after buying an additional 55,390 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in shares of Texas Capital Bancshares by 8.6% in the 4th quarter. Eagle Asset Management Inc. now owns 843,181 shares of the bank’s stock worth $75,159,000 after buying an additional 67,020 shares in the last quarter.

Texas Capital Bancshares (NASDAQ:TCBI) traded up $2.10 during trading hours on Thursday, reaching $89.75. The company had a trading volume of 452,984 shares, compared to its average volume of 496,922. Texas Capital Bancshares has a twelve month low of $69.65 and a twelve month high of $102.90. The firm has a market cap of $4,455.46, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.23 and a beta of 1.77. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 1.56.

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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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