Texas Capital Bancshares, Inc. (NASDAQ: TCBI) is expected to report quarterly sales of $ 222.41 million
Equity research analysts predict that Texas Capital Bancshares, Inc. (NASDAQ: TCBI) will bring in $ 222.41 million in sales for the current fiscal quarter, reports Zacks Investment Research. Seven analysts provided earnings estimates for Texas Capital Bancshares, with the highest sales estimate at $ 231.60 million and the lowest estimate at $ 214.00 million. Texas Capital Bancshares reported sales of $ 267.92 million in the same quarter last year, which would suggest a negative growth rate of 17% year-over-year. The company is expected to release its next results on Wednesday, October 20.
According to Zacks, analysts expect Texas Capital Bancshares to report annual revenue of $ 911.13 million for the current year, with estimates ranging from $ 895.60 million to $ 931.30. millions of dollars. For the next fiscal year, analysts predict the company will post sales of $ 932.39 million, with estimates ranging from $ 911.56 million to $ 965.90 million. Zacks’ sales averages are an average based on a survey of seller-side research analysts who provide coverage for Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ: TCBI) last released its quarterly results on Tuesday, July 20. The bank reported earnings per share of $ 1.31 for the quarter, beating 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 company posted revenue of $ 227.10 million for the quarter, compared to $ 240.67 million expected by analysts. In the same quarter of the previous year, the company posted earnings per share of $ 0.82. The company’s quarterly revenue was down 19.3% year-on-year.
Several analysts have published reports on the title. Stephens lowered his price target for Texas Capital Bancshares shares from $ 77.00 to $ 75 and established an “overweight” rating for the company in a research report released Thursday, July 22. Janney Montgomery Scott downgraded Texas Capital Bancshares shares from a “buy” rating to a “neutral” rating in a research report released Thursday, September 2. Raymond James reduced his price target on Texas Capital Bancshares shares from $ 78.00 to $ 75 and set an “outperformance” rating for the company in a research report released Thursday, September 2. They noted that the move was an appraisal call. Hovde Group downgraded Texas Capital Bancshares shares from an “outperformance” rating to a “market performance” rating in a research report released Thursday, September 2. Finally, Wedbush downgraded Texas Capital Bancshares shares from an “outperforming” rating to a “neutral” rating in a research note on Thursday, September 2. One analyst rated the stock with a sell rating, six issued a conservation rating, and six assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average “Hold” rating and a consensus target price of $ 72.36.
NASDAQ: TCBI shares 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 company has a fifty-day moving average of $ 63.39 and a 200-day moving average of $ 68.62. The company has a market cap of $ 2.86 billion, a PE ratio of 11.64 and a beta of 1.83. The company has a debt 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 bought 4,173 shares of the company in a trade dated Thursday, September 2. The shares were purchased at an average price of $ 59.83 per share, for a total transaction of $ 249,670.59. As a result of the purchase, the insider now directly owns 7,717 shares of the company, valued at approximately $ 461,708.11. The acquisition was disclosed in a legal file with the SEC, which is available on the SEC’s website. Additionally, CEO Rob C. Holmes purchased 8,308 shares of the company in a transaction dated Friday, September 3. The shares were purchased at an average price of $ 60.29 per share, for a total transaction of $ 500,889.32. Following the purchase, the CEO now directly owns 265,029 shares of the company, valued at $ 15,978,598.41. Disclosure of this purchase can be found here. Company insiders own 0.64% of the company’s shares.
Hedge funds have recently changed their positions in the company. Sowell Financial Services LLC increased its position in Texas Capital Bancshares shares by 17,450.0% during the 1st quarter. Sowell Financial Services LLC now owns 351 shares of the bank valued at $ 25,000 after purchasing an additional 349 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Texas Capital Bancshares in the second quarter valued at $ 34,000. Rockefeller Capital Management LP increased its stake in Texas Capital Bancshares by 128.2% in the second quarter. Rockefeller Capital Management LP now owns 785 shares of the bank valued at $ 49,000 after acquiring 441 additional shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in Texas Capital Bancshares in the 1st quarter valued at $ 61,000. Finally, TCTC Holdings LLC purchased a new stake in Texas Capital Bancshares in the 1st quarter for a value of $ 71,000.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures 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 commercial chequing accounts, safe deposit boxes, cash concentration 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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