Brokerages Expect Texas Capital Bancshares Inc (TCBI) Will Post Earnings of $1.16 Per Share

Equities research analysts forecast that Texas Capital Bancshares Inc (NASDAQ:TCBI) will report $1.16 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Texas Capital Bancshares’ earnings. The highest EPS estimate is $1.23 and the lowest is $1.08. Texas Capital Bancshares posted earnings of $0.96 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20.8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, January 24th.

On average, analysts expect that Texas Capital Bancshares will report full-year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.96 to $4.14. For the next year, analysts forecast that the firm will report earnings of $5.73 per share, with EPS estimates ranging from $4.84 to $6.27. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. 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 prior year, the company earned $0.87 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year.

A number of brokerages have recently issued reports on TCBI. Piper Jaffray Companies reiterated a “hold” rating and set a $98.50 price target on shares of Texas Capital Bancshares in a research note on Tuesday, January 9th. BidaskClub upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Wedbush lowered shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and dropped their price target 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. Barclays boosted their price target on shares of Texas Capital Bancshares from $87.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research lowered shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $95.83.

A number of institutional investors and hedge funds have recently modified their holdings of TCBI. Eagle Asset Management Inc. grew its position in Texas Capital Bancshares by 791.5% during the third quarter. Eagle Asset Management Inc. now owns 776,161 shares of the bank’s stock worth $67,448,000 after buying an additional 689,096 shares during the period. Koch Industries Inc. acquired a new position in Texas Capital Bancshares during the second quarter worth about $661,000. Balyasny Asset Management LLC grew its position in Texas Capital Bancshares by 474.5% during the second quarter. Balyasny Asset Management LLC now owns 657,805 shares of the bank’s stock worth $50,914,000 after buying an additional 543,299 shares during the period. State Street Corp grew its position in Texas Capital Bancshares by 14.8% during the second 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 during the period. Finally, Capital Research Global Investors grew its position in 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 worth $164,699,000 after buying an additional 445,248 shares during the period.

Texas Capital Bancshares (NASDAQ:TCBI) opened at $99.95 on Friday. Texas Capital Bancshares has a one year low of $69.65 and a one year high of $100.45. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 1.44. The stock has a market cap of $5,070.00, a PE ratio of 25.96, a PEG ratio of 1.42 and a beta of 1.66.

COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/01/21/brokerages-expect-texas-capital-bancshares-inc-tcbi-will-post-earnings-of-1-16-per-share.html.

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.

Get a free copy of the Zacks research report on Texas Capital Bancshares (TCBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply