$251.77 Million in Sales Expected for Texas Capital Bancshares Inc (NASDAQ:TCBI) This Quarter

Wall Street brokerages predict that Texas Capital Bancshares Inc (NASDAQ:TCBI) will announce $251.77 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with the lowest sales estimate coming in at $244.20 million and the highest estimate coming in at $259.70 million. Texas Capital Bancshares posted sales of $272.47 million during the same quarter last year, which suggests a negative year over year growth rate of 7.6%. The business is expected to announce its next earnings results on Wednesday, October 21st.

According to Zacks, analysts expect that Texas Capital Bancshares will report full-year sales of $1.02 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.04 billion. For the next fiscal year, analysts anticipate that the business will report sales of $982.42 million, with estimates ranging from $950.80 million to $1.04 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.89). Texas Capital Bancshares had a net margin of 8.10% and a return on equity of 6.68%. The business had revenue of $280.43 million during the quarter, compared to analysts’ expectations of $235.15 million.

TCBI has been the subject of a number of recent analyst reports. Bank of America reduced their price target on shares of Texas Capital Bancshares from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Jefferies Financial Group initiated coverage on shares of Texas Capital Bancshares in a research report on Tuesday, June 2nd. They set a “hold” rating and a $30.00 price target for the company. Royal Bank of Canada restated a “hold” rating and set a $28.00 price target on shares of Texas Capital Bancshares in a research report on Monday, April 13th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $41.00 to $26.00 in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Texas Capital Bancshares from $21.50 to $20.50 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.65.

Shares of TCBI traded down $0.69 during mid-day trading on Monday, reaching $33.22. 460,924 shares of the stock traded hands, compared to its average volume of 524,772. The firm has a fifty day moving average price of $30.18 and a 200 day moving average price of $35.43. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 2.95 and a beta of 2.20. The company has a current ratio of 1.19, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20. Texas Capital Bancshares has a 1 year low of $19.10 and a 1 year high of $64.88.

Institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. bought a new stake in Texas Capital Bancshares in the first quarter worth $33,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Texas Capital Bancshares by 146.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,182 shares of the bank’s stock worth $66,000 after purchasing an additional 703 shares during the last quarter. Aigen Investment Management LP lifted its stake in Texas Capital Bancshares by 133.4% in the first quarter. Aigen Investment Management LP now owns 3,093 shares of the bank’s stock worth $69,000 after purchasing an additional 1,768 shares during the last quarter. CWM Advisors LLC bought a new position in shares of Texas Capital Bancshares during the first quarter valued at about $70,000. Finally, Macquarie Group Ltd. bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $79,000. 92.16% of the stock is owned by institutional investors and hedge funds.

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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