Texas capital

Zacks: Brokerages expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to report quarterly sales of $220.23 million


Brokerages expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Rating) to report sales of $220.23 million for the current quarter, according to Zacks. Seven analysts provided earnings estimates for Texas Capital Bancshares. The highest sales estimate is $227.70 million and the lowest is $215.50 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 due to release its next results on Monday, January 1.

According to Zacks, 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 next year, analysts expect the company to record sales of $1.09 billion, with estimates ranging from $1.02 billion to $1.21 billion. Zacks sales averages are an average average based on a survey of analysts who cover Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI – Get Rating) last reported quarterly earnings data 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 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 company’s revenue for the quarter was down 14.8% year over year. In the same period a year earlier, the company posted earnings per share of $1.33.

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

Shares of TCBI 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 company’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 ratio of 0.33. Texas Capital Bancshares has a 12-month low of $51.07 and a 12-month high of $71.68.

Separately, director Robert W. Stallings acquired 3,000 shares in a transaction that took place on Thursday, April 28. 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, valued at $3,569,904. The purchase was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, director Robert W. Stallings purchased 8,000 shares of the company in a transaction on Monday, April 25. The shares were 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, valued at approximately $2,359,246.50. Disclosure of this purchase can be found here. Insiders bought 16,700 shares of the company valued at $875,025 over the past 90 days. Insiders own 0.56% of the shares of the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of TCBI. FMR LLC increased its equity stake in Texas Capital Bancshares by 178,572.6% during the 1st quarter. FMR LLC now owns 150,085 shares of the bank valued at $8,194,000 after purchasing an additional 150,001 shares during the period. The Swiss National Bank increased its position in Texas Capital Bancshares by 0.4% in the third quarter. The Swiss National Bank now owns 111,750 shares of the bank worth $6,707,000 after buying an additional 500 shares last quarter. The Florida Retirement System State Board increased its position in Texas Capital Bancshares by 1.1% in the third quarter. The Florida Retirement System State Board of Directors now owns 18,622 shares of the bank worth $1,118,000 after buying 210 additional 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 worth $6,752,000 after purchasing an additional 14,265 shares last quarter. Finally, Principal Financial Group Inc. increased 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 worth $19,880,000 after purchasing an additional 1,554 shares in the last quarter. Hedge funds and other institutional investors hold 97.77% of the company’s shares.

Texas Capital Bancshares Company Profile (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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Earnings history and estimates for Texas Capital Bancshares (NASDAQ:TCBI)



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