Texas Capital Bancshares, Inc. (TCBI) Expected to Announce Quarterly Sales of $219.68 Million

Wall Street brokerages expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to post $219.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with the highest sales estimate coming in at $226.00 million and the lowest estimate coming in at $211.40 million. Texas Capital Bancshares reported sales of $190.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that Texas Capital Bancshares will report full-year sales of $219.68 million for the current fiscal year, with estimates ranging from $821.30 million to $833.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $946.90 million per share, with estimates ranging from $921.50 million to $964.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow 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. The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $214.08 million. Texas Capital Bancshares had a return on equity of 10.40% and a net margin of 22.50%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share.

A number of research analysts have recently weighed in on TCBI shares. BidaskClub lowered Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. SunTrust Banks restated a “buy” rating and set a $100.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday. Deutsche Bank raised 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. 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. Finally, Zacks Investment Research upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $91.87.

Texas Capital Bancshares (NASDAQ:TCBI) opened at $90.90 on Friday. The firm has a market capitalization of $4,483.76, a PE ratio of 23.47, a PEG ratio of 1.87 and a beta of 1.66. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 1.44. Texas Capital Bancshares has a 12-month low of $69.65 and a 12-month high of $93.35.

In other Texas Capital Bancshares news, COO Peter B. Bartholow sold 3,500 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $87.52, for a total value of $306,320.00. Following the completion of the sale, the chief operating officer now owns 34,171 shares of the company’s stock, valued at $2,990,645.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in Texas Capital Bancshares in the third quarter worth about $421,000. Neuberger Berman Group LLC lifted its stake in Texas Capital Bancshares by 5.1% in the third quarter. Neuberger Berman Group LLC now owns 364,356 shares of the bank’s stock worth $31,262,000 after purchasing an additional 17,778 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Texas Capital Bancshares in the third quarter worth about $1,530,000. California Public Employees Retirement System lifted its stake in Texas Capital Bancshares by 5.9% in the third quarter. California Public Employees Retirement System now owns 91,820 shares of the bank’s stock worth $7,878,000 after purchasing an additional 5,120 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Texas Capital Bancshares by 439.5% in the third quarter. Cubist Systematic Strategies LLC now owns 14,027 shares of the bank’s stock worth $1,204,000 after purchasing an additional 11,427 shares during the last quarter.

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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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Earnings History and Estimates for Texas Capital Bancshares (NASDAQ:TCBI)

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