Wall Street brokerages forecast that Texas Capital Bancshares Inc (NASDAQ:TCBI) will post $240.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Texas Capital Bancshares’ earnings, with estimates ranging from $236.60 million to $244.50 million. Texas Capital Bancshares posted sales of $201.73 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.4%. The company is scheduled to report its next earnings results on Wednesday, July 18th.
According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $981.20 million for the current year, with estimates ranging from $967.60 million to $992.10 million. For the next year, analysts expect that the firm will report sales of $1.08 billion per share, with estimates ranging from $1.05 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Texas Capital Bancshares.
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Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, April 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. Texas Capital Bancshares had a return on equity of 12.00% and a net margin of 22.07%. The firm had revenue of $230.25 million during the quarter, compared to analyst estimates of $225.43 million. During the same period last year, the company earned $0.80 EPS.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, May 26th. Deutsche Bank raised their price target on Texas Capital Bancshares from $106.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, May 4th. Piper Jaffray Companies raised Texas Capital Bancshares from a “neutral” rating to an “overweight” rating in a research note on Thursday, April 19th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Texas Capital Bancshares in a research note on Thursday, April 19th. Finally, ValuEngine raised Texas Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $101.04.
A number of hedge funds and other institutional investors have recently modified their holdings of TCBI. Carillon Tower Advisers Inc. bought a new stake in Texas Capital Bancshares during the 4th quarter valued at $42,292,000. Victory Capital Management Inc. increased its holdings in shares of Texas Capital Bancshares by 118.9% in the 4th quarter. Victory Capital Management Inc. now owns 378,250 shares of the bank’s stock valued at $33,626,000 after acquiring an additional 205,490 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $12,954,000. BlackRock Inc. increased its holdings in shares of Texas Capital Bancshares by 2.4% in the 1st quarter. BlackRock Inc. now owns 5,433,137 shares of the bank’s stock valued at $488,439,000 after acquiring an additional 124,992 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Texas Capital Bancshares by 137.4% in the 4th quarter. Deutsche Bank AG now owns 154,952 shares of the bank’s stock valued at $13,772,000 after acquiring an additional 89,691 shares during the period.
Shares of TCBI stock traded down $1.35 on Friday, reaching $101.00. 22,072 shares of the company’s stock were exchanged, compared to its average volume of 393,121. Texas Capital Bancshares has a 52 week low of $69.65 and a 52 week high of $103.05. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.20 and a current ratio of 1.26. The firm has a market capitalization of $5.08 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.37 and a beta of 1.74.
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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