Brokerages Anticipate Texas Capital Bancshares Inc (TCBI) Will Post Quarterly Sales of $215.15 Million
Wall Street analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to report sales of $215.15 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with the lowest sales estimate coming in at $211.30 million and the highest estimate coming in at $218.70 million. Texas Capital Bancshares reported sales of $190.06 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The business is expected to report its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that Texas Capital Bancshares will report full year sales of $215.15 million for the current fiscal year, with estimates ranging from $808.50 million to $833.10 million. For the next fiscal year, analysts forecast that the business will report sales of $925.40 million per share, with estimates ranging from $913.00 million to $934.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Texas Capital Bancshares had a return on equity of 11.40% and a net margin of 26.27%. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $214.08 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis.
Several research analysts have commented on TCBI shares. Zacks Investment Research lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Royal Bank Of Canada reissued a “buy” rating on shares of Texas Capital Bancshares in a research report on Friday. BidaskClub raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Stephens reissued a “hold” rating and issued a $84.00 price objective on shares of Texas Capital Bancshares in a research report on Thursday, July 20th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $89.60.
In other news, COO Peter B. Bartholow sold 3,500 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $87.52, for a total transaction of $306,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,171 shares in the company, valued at $2,990,645.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider C Keith Cargill bought 3,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average price 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 $5,953,206.90. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in TCBI. BlackRock Inc. grew its stake in shares of Texas Capital Bancshares by 19,441.6% during the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock valued at $466,900,000 after acquiring an additional 5,566,317 shares in the last quarter. State Street Corp grew its stake in shares of Texas Capital Bancshares by 48.4% during the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock valued at $254,339,000 after acquiring an additional 994,585 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $661,000. Balyasny Asset Management LLC grew its stake in shares of Texas Capital Bancshares by 474.5% during the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock valued at $50,914,000 after acquiring an additional 543,299 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Texas Capital Bancshares by 26.5% during the second quarter. Capital Research Global Investors now owns 2,127,895 shares of the bank’s stock valued at $164,699,000 after acquiring an additional 445,248 shares in the last quarter.
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Shares of Texas Capital Bancshares (TCBI) opened at 86.90 on Tuesday. The stock has a 50 day moving average price of $81.99 and a 200-day moving average price of $78.16. Texas Capital Bancshares has a 52 week low of $56.25 and a 52 week high of $93.35. The firm has a market capitalization of $4.31 billion, a PE ratio of 24.12 and a beta of 1.68.
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.
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