Texas Capital Bancshares Inc (TCBI) Expected to Post Quarterly Sales of $219.72 Million

Analysts predict that Texas Capital Bancshares Inc (NASDAQ:TCBI) will announce sales of $219.72 million for the current quarter, according to Zacks. 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 would suggest a positive year-over-year growth rate of 15.6%. The firm is scheduled to report its next quarterly earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $219.72 million for the current year, with estimates ranging from $821.30 million to $833.10 million. For the next year, analysts forecast that the business will report sales of $948.58 million per share, with estimates ranging from $936.90 million to $964.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $204.40 million for 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 company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share.

Several analysts have recently commented on TCBI shares. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday, September 19th. Wedbush downgraded Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $88.00 to $87.00 in a research note on Wednesday, October 4th. They noted that the move was a valuation call. SunTrust Banks reissued a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, October 4th. DA Davidson reissued a “neutral” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research note on Thursday, October 19th. Finally, Bank of America reissued a “buy” rating and issued a $100.00 price objective (up from $97.00) on shares of Texas Capital Bancshares in a research note on Thursday, October 19th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Texas Capital Bancshares currently has a consensus rating of “Buy” and an average price target of $95.00.

Shares of Texas Capital Bancshares (NASDAQ:TCBI) opened at $92.95 on Friday. The company has a market capitalization of $4,538.35, a P/E ratio of 24.14, a PEG ratio of 1.48 and a beta of 1.66. Texas Capital Bancshares has a 52 week low of $69.65 and a 52 week high of $95.20. The company has a quick ratio of 1.22, a current ratio of 1.27 and a debt-to-equity ratio of 1.44.

In related news, COO Peter B. Bartholow sold 3,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,990,645.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Texas Capital Bancshares by 2.5% during the second quarter. Vanguard Group Inc. now owns 4,053,255 shares of the bank’s stock valued at $313,721,000 after acquiring an additional 98,473 shares during the last quarter. State Street Corp increased its position in shares of Texas Capital Bancshares by 14.8% during the second quarter. State Street Corp now owns 3,497,607 shares of the bank’s stock valued at $270,711,000 after acquiring an additional 449,797 shares during the last quarter. Capital Research Global Investors increased its position 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 during the last quarter. Wasatch Advisors Inc. increased its position in shares of Texas Capital Bancshares by 3.6% during the second quarter. Wasatch Advisors Inc. now owns 1,438,060 shares of the bank’s stock valued at $111,306,000 after acquiring an additional 50,474 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Texas Capital Bancshares by 4.7% during the second quarter. Alliancebernstein L.P. now owns 1,369,988 shares of the bank’s stock valued at $106,037,000 after acquiring an additional 61,357 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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