Zacks: Brokerages Expect Texas Capital Bancshares Inc (NASDAQ:TCBI) Will Post Earnings of $0.66 Per Share

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Equities research analysts forecast that Texas Capital Bancshares Inc (NASDAQ:TCBI) will announce $0.66 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Texas Capital Bancshares’ earnings. The lowest EPS estimate is $0.23 and the highest is $1.17. Texas Capital Bancshares reported earnings per share of $1.70 during the same quarter last year, which would suggest a negative year-over-year growth rate of 61.2%. The firm is scheduled to announce its next earnings results on Wednesday, October 21st.

On average, analysts expect that Texas Capital Bancshares will report full year earnings of $0.23 per share for the current fiscal year, with EPS estimates ranging from ($0.48) to $1.39. For the next year, analysts anticipate that the company will post earnings of $3.24 per share, with EPS estimates ranging from $1.76 to $4.70. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Texas Capital Bancshares.

Texas Capital Bancshares (NASDAQ:TCBI) last released 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 return on equity of 6.68% and a net margin of 8.10%. The firm had revenue of $280.43 million for the quarter, compared to the consensus estimate of $235.15 million.

TCBI has been the topic of a number of research reports. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $46.50 to $38.00 in a research report on Tuesday, May 26th. SunTrust Banks boosted their price objective on shares of Texas Capital Bancshares from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Jefferies Financial Group began coverage on shares of Texas Capital Bancshares in a research report on Tuesday, June 2nd. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $26.00 in a research report on Tuesday, May 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.54.

TCBI traded up $0.40 during trading on Wednesday, reaching $32.50. The company had a trading volume of 386,383 shares, compared to its average volume of 739,857. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.19 and a quick ratio of 1.18. Texas Capital Bancshares has a 12 month low of $19.10 and a 12 month high of $64.88. The business’s fifty day moving average price is $33.32 and its 200 day moving average price is $30.35. The company has a market cap of $1.64 billion, a P/E ratio of 16.17, a PEG ratio of 2.76 and a beta of 2.16.

In related news, CEO Larry L. Helm acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $33.12 per share, for a total transaction of $993,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 54,076 shares in the company, valued at $1,790,997.12. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in TCBI. Morgan Stanley grew its stake in shares of Texas Capital Bancshares by 134.7% in the first quarter. Morgan Stanley now owns 1,861,764 shares of the bank’s stock valued at $41,274,000 after acquiring an additional 1,068,440 shares in the last quarter. Wellington Management Group LLP bought a new position in Texas Capital Bancshares in the 1st quarter valued at approximately $18,221,000. Fuller & Thaler Asset Management Inc. raised its holdings in Texas Capital Bancshares by 62.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,819,319 shares of the bank’s stock valued at $40,334,000 after buying an additional 701,356 shares during the last quarter. UBS Group AG raised its holdings in Texas Capital Bancshares by 812.5% in the 2nd quarter. UBS Group AG now owns 635,544 shares of the bank’s stock valued at $19,620,000 after buying an additional 565,892 shares during the last quarter. Finally, Bank of Nova Scotia raised its holdings in Texas Capital Bancshares by 393.8% in the 2nd quarter. Bank of Nova Scotia now owns 496,210 shares of the bank’s stock valued at $15,318,000 after buying an additional 395,714 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.

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

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