$212.40 Million in Sales Expected for Texas Capital Bancshares, Inc. (TCBI) This Quarter
Analysts predict that Texas Capital Bancshares, Inc. (NASDAQ:TCBI) will post $212.40 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with estimates ranging from $206.90 million to $220.60 million. Texas Capital Bancshares posted sales of $183.46 million in the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The firm is expected to report its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that Texas Capital Bancshares will report full year sales of $212.40 million for the current financial year, with estimates ranging from $802.80 million to $823.50 million. For the next financial year, analysts anticipate that the business will report sales of $928.78 million per share, with estimates ranging from $913.00 million to $945.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The company had revenue of $201.73 million during the quarter, compared to the consensus estimate of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same period in the previous year, the company posted $0.78 EPS.
Several analysts recently commented on the company. ValuEngine lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and issued a $104.00 price objective on shares of Texas Capital Bancshares in a report on Friday, July 14th. Zacks Investment Research lowered Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Hovde Group raised their price objective on Texas Capital Bancshares from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $86.86.
In other news, insider C Keith Cargill purchased 3,000 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the completion of the purchase, the insider now directly owns 80,286 shares of the company’s stock, valued at approximately $5,953,206.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company’s stock.
Several large investors have recently modified their holdings of TCBI. Exane Derivatives acquired a new stake in shares of Texas Capital Bancshares in the second quarter worth approximately $125,000. Canada Pension Plan Investment Board boosted its stake in shares of Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock worth $142,000 after acquiring an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock worth $148,000 after acquiring an additional 563 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter worth approximately $201,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter worth approximately $201,000.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/17/212-40-million-in-sales-expected-for-texas-capital-bancshares-inc-tcbi-this-quarter-3.html.
Texas Capital Bancshares (TCBI) opened at 77.35 on Friday. Texas Capital Bancshares has a 52 week low of $51.02 and a 52 week high of $93.35. The company has a market capitalization of $3.84 billion, a P/E ratio of 21.47 and a beta of 1.67. The company’s 50 day moving average price is $75.43 and its 200-day moving average price is $78.30.
Texas Capital Bancshares Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Texas Capital Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.