Equities research analysts predict that Texas Capital Bancshares, Inc. (NASDAQ:TCBI) will report $222.41 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Texas Capital Bancshares' earnings, with the highest sales estimate coming in at $231.60 million and the lowest estimate coming in at $214.00 million. Texas Capital Bancshares reported sales of $267.92 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17%. The business is expected to issue its next earnings results on Wednesday, October 20th.
According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $911.13 million for the current year, with estimates ranging from $895.60 million to $931.30 million. For the next fiscal year, analysts forecast that the business will post sales of $932.39 million, with estimates ranging from $911.56 million to $965.90 million. Zacks' sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Tuesday, July 20th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10. Texas Capital Bancshares had a net margin of 23.37% and a return on equity of 9.64%. The firm had revenue of $227.10 million for the quarter, compared to analysts' expectations of $240.67 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The business's quarterly revenue was down 19.3% on a year-over-year basis.
Several analysts have issued reports on the stock. Stephens cut their price target on shares of Texas Capital Bancshares from $77.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, July 22nd. Janney Montgomery Scott lowered shares of Texas Capital Bancshares from a "buy" rating to a "neutral" rating in a research report on Thursday, September 2nd. Raymond James cut their price target on shares of Texas Capital Bancshares from $78.00 to $75.00 and set an "outperform" rating for the company in a research report on Thursday, September 2nd. They noted that the move was a valuation call. Hovde Group lowered shares of Texas Capital Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, September 2nd. Finally, Wedbush downgraded shares of Texas Capital Bancshares from an "outperform" rating to a "neutral" rating in a research note on Thursday, September 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $72.36.
Shares of NASDAQ:TCBI opened at $56.59 on Friday. Texas Capital Bancshares has a 52-week low of $29.44 and a 52-week high of $93.26. The firm has a fifty day moving average of $63.39 and a 200 day moving average of $68.62. The firm has a market capitalization of $2.86 billion, a PE ratio of 11.64 and a beta of 1.83. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.09.
In other Texas Capital Bancshares news, insider Timothy J. Storms purchased 4,173 shares of the company's stock in a transaction dated Thursday, September 2nd. The shares were acquired at an average price of $59.83 per share, for a total transaction of $249,670.59. Following the purchase, the insider now directly owns 7,717 shares of the company's stock, valued at approximately $461,708.11. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rob C. Holmes purchased 8,308 shares of the company's stock in a transaction dated Friday, September 3rd. The shares were acquired at an average price of $60.29 per share, for a total transaction of $500,889.32. Following the purchase, the chief executive officer now directly owns 265,029 shares in the company, valued at $15,978,598.41. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company's stock.
Hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC raised its position in shares of Texas Capital Bancshares by 17,450.0% during the 1st quarter. Sowell Financial Services LLC now owns 351 shares of the bank's stock valued at $25,000 after purchasing an additional 349 shares during the period. Eagle Bay Advisors LLC bought a new stake in Texas Capital Bancshares in the 2nd quarter valued at $34,000. Rockefeller Capital Management L.P. increased its holdings in Texas Capital Bancshares by 128.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 785 shares of the bank's stock valued at $49,000 after acquiring an additional 441 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Texas Capital Bancshares in the 1st quarter valued at $61,000. Finally, TCTC Holdings LLC bought a new stake in Texas Capital Bancshares in the 1st quarter valued at $71,000.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the holding company for Texas Capital Bank NA. It provides commercial banking services to its customers in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. The firm loan portfolio comprises of commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial checking accounts, lockbox accounts, cash concentration accounts, and other treasury management services, including an on-line 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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