Equities analysts expect that Texas Capital Bancshares Inc (NASDAQ:TCBI) will post $267.15 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Texas Capital Bancshares’ earnings, with estimates ranging from $263.50 million to $270.80 million. Texas Capital Bancshares reported sales of $248.99 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The company is expected to issue its next earnings report after the market closes on Wednesday, July 17th.
According to Zacks, analysts expect that Texas Capital Bancshares will report full year sales of $1.08 billion for the current year, with estimates ranging from $1.06 billion to $1.08 billion. For the next year, analysts forecast that the firm will report sales of $1.10 billion, with estimates ranging from $1.04 billion to $1.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.26. The firm had revenue of $265.63 million during the quarter, compared to analysts’ expectations of $253.83 million. Texas Capital Bancshares had a net margin of 23.36% and a return on equity of 13.37%. During the same period in the prior year, the company posted $1.38 earnings per share.
Shares of NASDAQ TCBI traded up $1.53 during midday trading on Friday, reaching $61.13. The stock had a trading volume of 832,850 shares, compared to its average volume of 531,068. The business’s 50-day simple moving average is $60.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.30 and a quick ratio of 1.21. The company has a market cap of $3.00 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. Texas Capital Bancshares has a 12-month low of $47.86 and a 12-month high of $99.95.
In other Texas Capital Bancshares news, CEO C Keith Cargill acquired 3,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $58.83 per share, with a total value of $176,490.00. Following the purchase, the chief executive officer now directly owns 120,847 shares of the company’s stock, valued at approximately $7,109,429.01. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ian J. Turpin sold 3,977 shares of Texas Capital Bancshares stock in a transaction on Monday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $240,966.43. Following the completion of the transaction, the director now directly owns 4,632 shares of the company’s stock, valued at $280,652.88. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Several large investors have recently modified their holdings of TCBI. Vanguard Group Inc grew its stake in shares of Texas Capital Bancshares by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 4,540,983 shares of the bank’s stock worth $375,312,000 after buying an additional 114,580 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Texas Capital Bancshares by 2.7% in the 4th quarter. BlackRock Inc. now owns 4,543,746 shares of the bank’s stock worth $232,140,000 after acquiring an additional 120,183 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Texas Capital Bancshares by 42.4% in the 4th quarter. Bank of New York Mellon Corp now owns 909,206 shares of the bank’s stock worth $46,450,000 after acquiring an additional 270,663 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Texas Capital Bancshares by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 32,839 shares of the bank’s stock worth $1,678,000 after acquiring an additional 1,279 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Texas Capital Bancshares by 17.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,345 shares of the bank’s stock worth $375,000 after acquiring an additional 1,113 shares during the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.
Texas Capital Bancshares Company Profile
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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