Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Expected to Post Quarterly Sales of $215.17 Million
Brokerages expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to report $215.17 million in sales for the current fiscal quarter, Zacks reports. Six analysts provided earnings estimates for Texas Capital Bancshares, with the highest sales estimate of $222.00 million and the lowest estimate of $208.50 million. Texas Capital Bancshares reported sales of $239.17 million in the same quarter last year, indicating a negative 10% year-over-year growth rate. The company is due to announce its next results on Wednesday, April 20.
According to Zacks, analysts expect Texas Capital Bancshares to report annual sales of $926.64 million for the current fiscal year, with estimates ranging from $894.10 million to $973.41 million. . For the next fiscal year, analysts expect the company to report sales of $1.08 billion, with estimates ranging from $1.02 billion to $1.17 billion. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last reported quarterly results on Thursday, January 20. The bank reported EPS of $1.19 for the quarter, beating Thomson Reuters consensus estimate of $0.91 by $0.28. Texas Capital Bancshares had a net margin of 23.46% and a return on equity of 8.98%. During the same period last year, the company achieved EPS of $1.14.
Several equity research analysts weighed in on the stock. Raymond James cut his price target on Texas Capital Bancshares stock from $75.00 to $70.00 and set an “outperform” rating on the stock in a Friday, January 21 report. Zacks Investment Research upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a price target of $63.00 on the stock in a Friday, November 19 research report. Finally, Bank of America restated a “neutral” rating and set a target price of $69.00 on shares of Texas Capital Bancshares in a Tuesday, January 18 research report. Six investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and an average price target of $73.63.
Separately, director Robert W. Stallings acquired 16,446 shares of the company in a transaction that took place on Thursday, November 4. The stock was purchased at an average price of $61.62 per share, with a total value of $1,013,402.52. The acquisition was disclosed in a document filed with the SEC, accessible via this hyperlink. Insiders of the company own 0.64% of the shares of the company.
A number of hedge funds have recently changed their positions in TCBI. O Shaughnessy Asset Management LLC increased its holdings of Texas Capital Bancshares shares by 4,210.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 431 shares of the bank valued at $26,000 after buying 421 additional shares in the last quarter. Rockefeller Capital Management LP increased its holdings of Texas Capital Bancshares shares by 128.2% during the second quarter. Rockefeller Capital Management LP now owns 785 shares of the bank worth $49,000 after purchasing an additional 441 shares during the period. Hanseatic Management Services Inc. increased its stake in Texas Capital Bancshares by 23.7% in the third quarter. Hanseatic Management Services Inc. now owns 1,064 shares of the bank valued at $64,000 after acquiring an additional 204 shares during the period. Dark Forest Capital Management LP purchased a new equity stake from Texas Capital Bancshares during the second quarter worth approximately $75,000. Finally, the Toronto Dominion Bank increased its holdings of Texas Capital Bancshares by 42.1% in the second quarter. The Toronto Dominion Bank now owns 1,512 shares of the bank valued at $96,000 after buying 448 more shares last quarter. 95.67% of the shares are held by institutional investors.
TCBI opened at $61.86 on Friday. The stock’s 50-day moving average price is $60.88 and its 200-day moving average price is $61.58. The stock has a market capitalization of $3.13 billion, a P/E ratio of 13.63 and a beta of 1.83. Texas Capital Bancshares has a 12-month low of $54.27 and a 12-month high of $93.26. The company has a debt ratio of 1.10, a current ratio of 1.10 and a quick ratio of 1.10.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc operates as a holding company for Texas Capital Bank NA. It provides commercial banking services to its clients in Texas and focuses on middle-market commercial businesses and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include business checking accounts, escrow accounts, cash pooling accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.
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