$251.08 Million in Sales Expected for Texas Capital Bancshares Inc (NASDAQ:TCBI) This Quarter

Equities research analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to announce sales of $251.08 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with the highest sales estimate coming in at $259.70 million and the lowest estimate coming in at $244.20 million. Texas Capital Bancshares posted sales of $272.47 million in the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The company is expected to announce its next earnings report 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 financial year, with estimates ranging from $1.01 billion to $1.04 billion. For the next year, analysts expect that the company will post sales of $978.58 million, with estimates ranging from $950.80 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported ($0.73) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $280.43 million for the quarter, compared to the consensus estimate of $235.15 million.

Several equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Texas Capital Bancshares in a research note on Tuesday, June 2nd. They set a “hold” rating and a $30.00 price objective on the stock. BidaskClub raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $26.00 in a research report on Tuesday, May 26th. Finally, Wedbush decreased their target price on Texas Capital Bancshares from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.54.

In related news, CEO Larry L. Helm bought 30,000 shares of Texas Capital Bancshares stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $33.12 per share, with a total value of $993,600.00. Following the acquisition, the chief executive officer now directly owns 54,076 shares of the company’s stock, valued at $1,790,997.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of TCBI. Louisiana State Employees Retirement System boosted its position in shares of Texas Capital Bancshares by 3.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the bank’s stock valued at $389,000 after acquiring an additional 400 shares during the last quarter. Smith Graham & Co. Investment Advisors LP lifted its position in Texas Capital Bancshares by 0.4% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 109,403 shares of the bank’s stock valued at $3,377,000 after purchasing an additional 449 shares during the last quarter. Macquarie Group Ltd. lifted its position in Texas Capital Bancshares by 37.9% in the second quarter. Macquarie Group Ltd. now owns 1,930 shares of the bank’s stock valued at $60,000 after purchasing an additional 530 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Texas Capital Bancshares by 1.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 43,361 shares of the bank’s stock valued at $961,000 after purchasing an additional 569 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Texas Capital Bancshares by 19.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,463 shares of the bank’s stock valued at $99,000 after purchasing an additional 714 shares during the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TCBI traded up $0.40 during trading hours on Friday, hitting $32.50. 386,383 shares of the company traded hands, compared to its average volume of 739,857. The company has a quick ratio of 1.18, a current ratio of 1.19 and a debt-to-equity ratio of 1.20. The firm’s 50-day simple moving average is $33.32 and its 200-day simple moving average is $30.35. Texas Capital Bancshares has a one year low of $19.10 and a one year high of $64.88. The company has a market cap of $1.64 billion, a PE ratio of 16.17, a PEG ratio of 2.76 and a beta of 2.16.

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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