Texas Capital Bancshares, Inc. (TCBI) Expected to Post Quarterly Sales of $225.43 Million

Equities research analysts predict that Texas Capital Bancshares, Inc. (NASDAQ:TCBI) will announce $225.43 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with the lowest sales estimate coming in at $220.10 million and the highest estimate coming in at $229.20 million. Texas Capital Bancshares reported sales of $180.47 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.9%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, April 18th.

According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $972.62 million for the current financial year, with estimates ranging from $952.70 million to $992.40 million. For the next financial year, analysts expect that the company will post sales of $1.08 billion per share, with estimates ranging from $1.05 billion to $1.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Texas Capital Bancshares.

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Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Texas Capital Bancshares had a net margin of 20.67% and a return on equity of 10.85%. The business had revenue of $230.02 million for the quarter, compared to analysts’ expectations of $219.78 million. During the same period last year, the company earned $0.96 earnings per share.

A number of brokerages have weighed in on TCBI. UBS began coverage on shares of Texas Capital Bancshares in a research report on Thursday, March 22nd. They set a “sell” rating on the stock. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Stephens reaffirmed a “hold” rating on shares of Texas Capital Bancshares in a research report on Tuesday, March 6th. Zacks Investment Research cut shares of Texas Capital Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, Barclays reaffirmed a “neutral” rating and set a $104.00 price target (up from $90.00) on shares of Texas Capital Bancshares in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $98.75.

TCBI opened at $92.10 on Tuesday. The company has a market capitalization of $4,561.38, a P/E ratio of 22.57, a P/E/G ratio of 1.25 and a beta of 1.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 1.28. Texas Capital Bancshares has a 1 year low of $69.65 and a 1 year high of $102.90.

In other news, Director Ian J. Turpin sold 1,186 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $89.55, for a total transaction of $106,206.30. Following the sale, the director now owns 9,491 shares in the company, valued at $849,919.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Keith Cargill acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $90.60 per share, for a total transaction of $181,200.00. Following the purchase, the chief executive officer now directly owns 82,286 shares of the company’s stock, valued at $7,455,111.60. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Texas Capital Bancshares by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,204,593 shares of the bank’s stock valued at $107,088,000 after purchasing an additional 55,390 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $12,954,000. Deutsche Bank AG raised its stake in shares of Texas Capital Bancshares by 137.4% during the fourth quarter. Deutsche Bank AG now owns 154,952 shares of the bank’s stock valued at $13,772,000 after purchasing an additional 89,691 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Texas Capital Bancshares by 39.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the bank’s stock valued at $250,000 after purchasing an additional 791 shares during the period. Finally, Standard Life Aberdeen plc raised its stake in shares of Texas Capital Bancshares by 6.7% during the fourth quarter. Standard Life Aberdeen plc now owns 240,975 shares of the bank’s stock valued at $21,417,000 after purchasing an additional 15,219 shares during the period.

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Texas Capital Bancshares Company Profile

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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