Zacks: Brokerages Anticipate Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Will Announce Quarterly Sales of $220.23 Million

Brokerages expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) to post $220.23 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Texas Capital Bancshares’ earnings. The highest sales estimate is $227.70 million and the lowest is $215.50 million. Texas Capital Bancshares posted sales of $227.10 million in the same quarter last year, which suggests a negative year over year growth rate of 3%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $912.47 million for the current year, with estimates ranging from $884.10 million to $931.90 million. For the next year, analysts anticipate that the business will report sales of $1.09 billion, with estimates ranging from $1.02 billion to $1.21 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The firm had revenue of $203.83 million during the quarter, compared to analyst estimates of $213.06 million. Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share.

TCBI has been the topic of several research reports. TheStreet downgraded Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, April 21st. Raymond James cut their target price on Texas Capital Bancshares from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, January 21st. Zacks Investment Research raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, April 13th. Bank of America reaffirmed a “neutral” rating and issued a $69.00 price objective on shares of Texas Capital Bancshares in a research note on Tuesday, January 18th. Finally, StockNews.com cut Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and an average target price of $70.69.

Shares of TCBI stock opened at $53.80 on Tuesday. The company has a market capitalization of $2.73 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.11 and a beta of 1.60. The business’s 50 day moving average is $57.83 and its two-hundred day moving average is $60.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Texas Capital Bancshares has a 12-month low of $51.07 and a 12-month high of $71.68.

In related news, Director Robert W. Stallings acquired 3,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were acquired at an average price of $52.00 per share, for a total transaction of $156,000.00. Following the completion of the purchase, the director now directly owns 68,652 shares of the company’s stock, valued at $3,569,904. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 8,000 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was acquired at an average price of $52.65 per share, for a total transaction of $421,200.00. Following the transaction, the director now owns 44,810 shares of the company’s stock, valued at approximately $2,359,246.50. The disclosure for this purchase can be found here. Insiders have bought 16,700 shares of company stock valued at $875,025 over the last 90 days. Insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBI. FMR LLC boosted its stake in shares of Texas Capital Bancshares by 178,572.6% during the 1st quarter. FMR LLC now owns 150,085 shares of the bank’s stock valued at $8,194,000 after buying an additional 150,001 shares during the period. Swiss National Bank raised its position in Texas Capital Bancshares by 0.4% in the third quarter. Swiss National Bank now owns 111,750 shares of the bank’s stock worth $6,707,000 after purchasing an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Texas Capital Bancshares by 1.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 18,622 shares of the bank’s stock worth $1,118,000 after purchasing an additional 210 shares in the last quarter. M&G Investment Management Ltd. raised its position in Texas Capital Bancshares by 14.5% in the third quarter. M&G Investment Management Ltd. now owns 112,526 shares of the bank’s stock worth $6,752,000 after purchasing an additional 14,265 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Texas Capital Bancshares by 0.5% during the third quarter. Principal Financial Group Inc. now owns 331,228 shares of the bank’s stock worth $19,880,000 after buying an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s stock.

Texas Capital Bancshares Company Profile (Get Rating)

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking, consumer banking, investment banking, and wealth management services.

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