Brokers expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) to record sales of $220.23 million for the current fiscal quarter, reports Zacks Investment Research. Seven analysts provided earnings estimates for Texas Capital Bancshares. The lowest sales estimate is $215.50 million and the highest is $227.70 million. Texas Capital Bancshares reported sales of $227.10 million in the same quarter last year, suggesting a negative 3% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect Texas Capital Bancshares to report annual sales of $912.47 million for the current year, with estimates ranging from $884.10 million to $931.90 million. . For the next fiscal year, analysts expect the company to record sales of $1.09 billion, with estimates ranging from $1.02 billion to $1.21 billion. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research firms that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported results on Wednesday, April 20. The bank reported earnings per share of $0.69 for the quarter, missing analyst consensus estimates of $0.73 per ($0.04). The company posted revenue of $203.83 million in the quarter, versus a consensus estimate of $213.06 million. Texas Capital Bancshares had a net margin of 22.71% and a return on equity of 7.80%. The company’s revenue for the quarter was down 14.8% year over year. During the same period last year, the company posted EPS of $1.33.
A number of research companies have weighed in on TCBI. StockNews.com downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a Thursday, April 14 report. TheStreet downgraded shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a Thursday, April 21 research report. Finally, Zacks Investment Research upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a target price of $58.00 on the stock in a Wednesday, April 13 research report. . One analyst rated the stock with a sell rating, four assigned a hold rating and four assigned the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.30.
NASDAQ:TCBI shares opened at $56.49 on Tuesday. The company has a 50-day moving average of $55.08 and a 200-day moving average of $59.83. The stock has a market capitalization of $2.87 billion, a PE ratio of 14.30, a PEG ratio of 2.19 and a beta of 1.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt ratio of 0.33. Texas Capital Bancshares has a 12-month low of $50.09 and a 12-month high of $71.60.
In other news, Director Robert W. Stallings purchased 3,000 shares of the company in a trade Thursday, April 28. The shares were acquired at an average cost of $52.00 per share, for a total transaction of $156,000.00. Following the purchase, the administrator now directly owns 68,652 shares of the company, valued at approximately $3,569,904. The transaction was disclosed in a filing with the SEC, accessible via this link. Additionally, director Larry L. Helm bought 5,700 shares of the company in a trade on Monday, May 2. The shares were purchased at an average price of $52.25 per share, with a total value of $297,825.00. Following the completion of the purchase, the administrator now owns 77,858 shares of the company, valued at $4,068,080.50. Disclosure of this purchase can be found here. Last quarter, insiders purchased 18,700 shares of the company worth $975,525. 0.56% of the shares are currently held by insiders of the company.
Several institutional investors and hedge funds have recently changed their holdings in TCBI. JPMorgan Chase & Co. increased its position in shares of Texas Capital Bancshares by 1,374.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,518,217 shares of the bank worth $91,473,000 after buying an additional 1,415,279 shares last quarter. Norges Bank bought a new stake in Texas Capital Bancshares in the fourth quarter worth approximately $47,757,000. Invesco Ltd. increased its stake in shares of Texas Capital Bancshares by 84.4% in the fourth quarter. Invesco Ltd. now owns 929,516 shares of the bank worth $56,003,000 after purchasing an additional 425,431 shares in the last quarter. Wellington Management Group LLP bought a new stock position in Texas Capital Bancshares in the third quarter worth approximately $24,285,000. Finally, Granite Investment Partners LLC bought a new stock position in Texas Capital Bancshares in the first quarter worth approximately $19,151,000. 97.77% of the shares are currently held by institutional investors and hedge funds.
About Texas Capital Bancshares (Get a rating)
Texas Capital Bancshares, Inc. operates as a bank holding company for Texas Capital Bank, is a full-service financial services company that provides customized solutions to businesses, entrepreneurs and individuals. The Company offers commercial banking, retail banking, investment banking and wealth management.
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