Texas Capital Bancshares Inc (TCBI) Expected to Post Quarterly Sales of $253.39 Million

Analysts forecast that Texas Capital Bancshares Inc (NASDAQ:TCBI) will report $253.39 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Texas Capital Bancshares’ earnings. The highest sales estimate is $264.80 million and the lowest is $237.50 million. Texas Capital Bancshares posted sales of $230.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.2%. The business is expected to report its next quarterly earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $991.57 million for the current financial year, with estimates ranging from $974.40 million to $1.01 billion. For the next year, analysts anticipate that the firm will post sales of $1.08 billion, with estimates ranging from $1.04 billion to $1.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $1.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.07). The firm had revenue of $257.69 million during the quarter, compared to analysts’ expectations of $257.14 million. Texas Capital Bancshares had a return on equity of 13.36% and a net margin of 23.10%. During the same period last year, the company earned $1.12 earnings per share.



A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Sandler O’Neill restated a “hold” rating and issued a $103.00 target price on shares of Texas Capital Bancshares in a research note on Friday, July 20th. ValuEngine downgraded shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 18th. SunTrust Banks restated a “buy” rating on shares of Texas Capital Bancshares in a research note on Friday, July 20th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $117.00 target price on shares of Texas Capital Bancshares in a research note on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Texas Capital Bancshares presently has an average rating of “Hold” and a consensus target price of $96.82.

TCBI stock traded up $1.12 during mid-day trading on Wednesday, reaching $65.73. The company had a trading volume of 8,424 shares, compared to its average volume of 756,490. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.29 and a quick ratio of 1.21. The company has a market capitalization of $3.19 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.04 and a beta of 1.77. Texas Capital Bancshares has a 12 month low of $61.48 and a 12 month high of $103.05.

In other Texas Capital Bancshares news, insider Vince A. Ackerson acquired 2,000 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were purchased at an average cost of $67.00 per share, for a total transaction of $134,000.00. Following the completion of the purchase, the insider now owns 28,485 shares in the company, valued at $1,908,495. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ian J. Turpin sold 5,320 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $93.06, for a total transaction of $495,079.20. Following the transaction, the director now owns 8,602 shares in the company, valued at $800,502.12. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. Arizona State Retirement System raised its holdings in shares of Texas Capital Bancshares by 3.3% in the third quarter. Arizona State Retirement System now owns 35,615 shares of the bank’s stock worth $2,944,000 after buying an additional 1,127 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Texas Capital Bancshares in the third quarter worth $2,964,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Texas Capital Bancshares by 13.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,217 shares of the bank’s stock worth $1,422,000 after buying an additional 1,988 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Texas Capital Bancshares in the third quarter worth $463,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Texas Capital Bancshares in the third quarter worth $442,000.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.

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Earnings History and Estimates for Texas Capital Bancshares (NASDAQ:TCBI)

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