Brokerages Anticipate Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to Announce $1.12 EPS

Analysts expect Texas Capital Bancshares, Inc. (NASDAQ:TCBI) to post earnings of $1.12 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Texas Capital Bancshares’ earnings, with the highest EPS estimate coming in at $1.35 and the lowest estimate coming in at $0.91. Texas Capital Bancshares reported earnings per share of $1.08 in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The business is expected to report its next earnings report on Wednesday, October 20th.

According to Zacks, analysts expect that Texas Capital Bancshares will report full-year earnings of $4.84 per share for the current fiscal year, with EPS estimates ranging from $4.45 to $5.20. For the next fiscal year, analysts expect that the business will report earnings of $3.71 per share, with EPS estimates ranging from $3.10 to $4.60. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its earnings results on Tuesday, July 20th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.10. The business had revenue of $227.10 million for the quarter, compared to analysts’ expectations of $240.67 million. Texas Capital Bancshares had a return on equity of 9.64% and a net margin of 23.37%. The business’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS.

Several analysts have issued reports on TCBI shares. Stephens dropped their target price on Texas Capital Bancshares from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, July 22nd. Hovde Group lowered Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, September 2nd. Piper Sandler upgraded Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 price objective for the company in a report on Thursday, July 22nd. Janney Montgomery Scott lowered Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, September 2nd. Finally, Wedbush lowered Texas Capital Bancshares from an “outperform” rating to a “neutral” rating in a report on Thursday, September 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $72.36.

NASDAQ TCBI traded up $0.34 during midday trading on Friday, hitting $57.16. 2,094 shares of the company traded hands, compared to its average volume of 692,961. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $2.89 billion, a PE ratio of 11.69 and a beta of 1.85. The company’s 50-day simple moving average is $63.16 and its 200-day simple moving average is $68.27. Texas Capital Bancshares has a 52 week low of $29.44 and a 52 week high of $93.26.

In other news, CEO Rob C. Holmes acquired 8,308 shares of the stock in a transaction that occurred on Friday, September 3rd. The shares were bought at an average cost of $60.29 per share, for a total transaction of $500,889.32. Following the acquisition, the chief executive officer now owns 265,029 shares in the company, valued at approximately $15,978,598.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy J. Storms bought 4,173 shares of the stock in a transaction dated Thursday, September 2nd. The shares were bought at an average price of $59.83 per share, for a total transaction of $249,670.59. Following the completion of the acquisition, the insider now owns 7,717 shares in the company, valued at $461,708.11. The disclosure for this purchase can be found here. 0.64% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of TCBI. FMR LLC raised its position in shares of Texas Capital Bancshares by 1,023.7% during the 2nd quarter. FMR LLC now owns 1,691,438 shares of the bank’s stock valued at $107,389,000 after buying an additional 1,540,920 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Texas Capital Bancshares by 602.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 930,200 shares of the bank’s stock valued at $65,970,000 after buying an additional 797,800 shares during the period. Caas Capital Management LP purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at approximately $55,889,000. State Street Corp raised its position in shares of Texas Capital Bancshares by 25.2% during the 2nd quarter. State Street Corp now owns 3,429,450 shares of the bank’s stock valued at $217,736,000 after buying an additional 690,845 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Texas Capital Bancshares by 79.4% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,551,095 shares of the bank’s stock valued at $98,479,000 after buying an additional 686,470 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the holding company for Texas Capital Bank NA. It provides commercial banking services to its customers in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. The firm loan portfolio comprises of commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial checking accounts, lockbox accounts, cash concentration accounts, and other treasury management services, including an on-line system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.

Featured Article: Depreciation

Get a free copy of the Zacks research report on Texas Capital Bancshares (TCBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Texas Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.