Texas Capital Bancshares, Inc. (TCBI) Expected to Post Earnings of $1.12 Per Share
Analysts forecast that Texas Capital Bancshares, Inc. (NASDAQ:TCBI) will announce earnings per share (EPS) of $1.12 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Texas Capital Bancshares’ earnings, with estimates ranging from $1.05 to $1.24. Texas Capital Bancshares posted earnings of $0.87 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Texas Capital Bancshares will report full year earnings of $4.00 per share for the current financial year, with EPS estimates ranging from $3.90 to $4.18. For the next financial year, analysts forecast that the firm will post earnings of $4.85 per share, with EPS estimates ranging from $4.68 to $5.14. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, July 19th. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. The business had revenue of $201.73 million for the quarter, compared to the consensus estimate of $197.10 million. During the same period last year, the business posted $0.78 EPS.
A number of research firms recently weighed in on TCBI. Zacks Investment Research cut shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Wedbush raised shares of Texas Capital Bancshares from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $79.00 to $86.00 in a research report on Monday, May 15th. Barclays PLC reaffirmed an “equal weight” rating and set a $80.00 price objective (up previously from $75.00) on shares of Texas Capital Bancshares in a research report on Wednesday, July 12th. BidaskClub cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 price objective on shares of Texas Capital Bancshares in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $86.15.
In other Texas Capital Bancshares news, CFO Peter B. Bartholow sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $74.52, for a total value of $298,080.00. Following the completion of the transaction, the chief financial officer now owns 37,671 shares of the company’s stock, valued at approximately $2,807,242.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.
A number of institutional investors have recently modified their holdings of TCBI. Exane Derivatives acquired a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $125,000. Canada Pension Plan Investment Board boosted its position in shares of Texas Capital Bancshares by 88.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the bank’s stock valued at $142,000 after buying an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Texas Capital Bancshares by 46.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,770 shares of the bank’s stock valued at $148,000 after buying an additional 563 shares in the last quarter. Hilton Capital Management LLC acquired a new position in shares of Texas Capital Bancshares during the second quarter valued at approximately $201,000. Finally, Parkwood LLC acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at approximately $211,000.
Shares of Texas Capital Bancshares (TCBI) traded down 1.71% during mid-day trading on Wednesday, reaching $77.70. The company’s stock had a trading volume of 104,113 shares. The firm has a market cap of $3.85 billion, a PE ratio of 21.57 and a beta of 1.67. Texas Capital Bancshares has a one year low of $48.01 and a one year high of $93.35. The firm’s 50 day moving average is $77.85 and its 200 day moving average is $80.26.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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