Brokerage firms predict Texas Capital Bancshares, Inc. (NASDAQ: TCBI) to report quarterly sales of $ 222.21 million
Stock analysts expect Texas Capital Bancshares, Inc. (NASDAQ: TCBI) to post revenue of $ 222.21 million for the current fiscal quarter, according to Zacks investment research. Seven analysts provided earnings estimates for Texas Capital Bancshares, with the highest sales estimate at $ 231.60 million and the lowest estimate at $ 214.00 million. Texas Capital Bancshares reported sales of $ 267.92 million in the same quarter last year, indicating a negative growth rate of 17.1% year-over-year. The company is expected to release its next results on Wednesday, October 20.
According to Zacks, analysts expect Texas Capital Bancshares to report annual revenue of $ 910.90 million for the current fiscal year, with estimates ranging from $ 895.39 million to $ 931.30. millions of dollars. For the next fiscal year, analysts predict the company will post sales of $ 932.01 million, with estimates ranging from $ 908.20 million to $ 965.90 million. Zacks’ sales calculations are an average based on a survey of research analysts who follow Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ: TCBI) last released its quarterly results on Tuesday, July 20. The bank reported earnings per share (EPS) of $ 1.31 for the quarter, beating the Zacks’ consensus estimate of $ 1.21 by $ 0.10. Texas Capital Bancshares recorded a return on equity of 9.64% and a net margin of 23.37%. The company posted revenue of $ 227.10 million in the quarter, compared to analysts’ estimates of $ 240.67 million. During the same period last year, the company made EPS of $ 0.82. Texas Capital Bancshares’ quarterly revenue was down 19.3% from the same quarter last year.
Several research analysts recently weighed in on TCBI shares. Wedbush downgraded Texas Capital Bancshares’ rating from an “outperforming” rating to a “neutral” rating in a research note on Thursday, September 2. Hovde Group upgraded Texas Capital Bancshares from an “outperformance” rating to a “market performance” rating in a research report released on Thursday, September 2. Janney Montgomery Scott downgraded Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, September 2. Piper Sandler upgraded Texas Capital Bancshares from a “neutral” to an “overweight” rating and set a price target of $ 75.00 for the company in a research note on Thursday, July 22. Finally, Raymond James lowered his price target on Texas Capital Bancshares from $ 78.00 to $ 75 and established an “outperformance” rating for the company in a research note on Thursday, September 2. They noted that the move was an appraisal call. One analyst rated the stock with a sell rating, six issued a conservation rating, and six assigned a buy rating to the company. According to MarketBeat.com, the company has an average “Hold” rating and a consensus target price of $ 72.36.
Separately, insider Timothy J. Storms bought 4,173 shares in a trade on Thursday, September 2. The stock was purchased at an average cost of $ 59.83 per share, for a total value of $ 249,670.59. As a result of the purchase, the insider now owns 7,717 shares of the company, valued at $ 461,708.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, CEO Rob C. Holmes bought 8,308 shares in a trade on Friday, September 3. The stock was purchased at an average cost of $ 60.29 per share, for a total value of $ 500,889.32. Following the purchase, the CEO now directly owns 265,029 shares of the company, valued at approximately $ 15,978,598.41. Disclosure of this purchase can be found here. 0.64% of the shares are currently held by insiders of the company.
Large investors have recently bought and sold stocks. Gillson Capital LP purchased a new equity stake in Texas Capital Bancshares in the 1st quarter valued at approximately $ 7,616,000. Bank of Montreal Can increased its stake in the shares of Texas Capital Bancshares by 1,245.3% in the 1st quarter. Bank of Montreal Can now owns 261,847 shares of the bank valued at $ 17,350,000 after acquiring an additional 242,383 shares during the period. HRT Financial LP acquired a new stake in shares of Texas Capital Bancshares in the 1st quarter valued at approximately $ 7,293,000. EJF Capital LLC acquired a new equity stake in Texas Capital Bancshares in the 1st quarter valued at approximately $ 6,017,000. Finally, Kennedy Capital Management Inc. acquired a new stake in the shares of Texas Capital Bancshares in the 1st quarter valued at approximately $ 15,763,000. Institutional investors and hedge funds hold 95.81% of the company’s shares.
Actions of NASDAQ: TCBI opened for $ 60.02 on Friday. Texas Capital Bancshares has a 12-month low of $ 30.76 and a 12-month high of $ 93.26. The company’s fifty-day simple moving average is $ 62.11 and its 200-day simple moving average is $ 66.35. The company has a market cap of $ 3.04 billion, a PE ratio of 12.35 and a beta of 1.85. The company has a current ratio of 1.09, a quick ratio of 1.09, and a debt ratio of 1.04.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial checking accounts, safe deposit boxes, cash concentration accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.
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