Texas Capital Bancshares Inc (TCBI) Expected to Post Earnings of $1.52 Per Share
Equities research analysts expect Texas Capital Bancshares Inc (NASDAQ:TCBI) to report $1.52 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Texas Capital Bancshares’ earnings, with estimates ranging from $1.37 to $1.65. Texas Capital Bancshares posted earnings of $1.38 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The firm is expected to announce its next earnings report on Wednesday, July 17th.
According to Zacks, analysts expect that Texas Capital Bancshares will report full year earnings of $6.46 per share for the current fiscal year, with EPS estimates ranging from $6.14 to $6.70. For the next financial year, analysts anticipate that the firm will report earnings of $6.63 per share, with EPS estimates ranging from $6.40 to $6.80. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Texas Capital Bancshares.
Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.26. The business had revenue of $265.63 million for the quarter, compared to the consensus estimate 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 last year, the company posted $1.38 EPS.
In other news, Director Ian J. Turpin sold 3,977 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.59, for a total value of $240,966.43. Following the sale, the director now directly owns 4,632 shares in the company, valued at approximately $280,652.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO C Keith Cargill purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $58.83 per share, for a total transaction of $176,490.00. Following the completion of the transaction, the chief executive officer now directly owns 120,847 shares of the company’s stock, valued at $7,109,429.01. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 7,576 shares of company stock worth $460,858. 0.54% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Manchester Capital Management LLC bought a new stake in Texas Capital Bancshares during the first quarter valued at about $34,000. JOYN Advisors Inc. boosted its stake in shares of Texas Capital Bancshares by 1,445.8% in the fourth quarter. JOYN Advisors Inc. now owns 912 shares of the bank’s stock worth $47,000 after acquiring an additional 853 shares during the period. JCSD Capital LLC purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $51,000. Cresset Asset Management LLC purchased a new stake in shares of Texas Capital Bancshares in the first quarter worth about $60,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth about $74,000. Institutional investors and hedge funds own 99.19% of the company’s stock.
Shares of TCBI stock opened at $58.71 on Friday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.93 and a beta of 1.83. Texas Capital Bancshares has a 52 week low of $47.86 and a 52 week high of $102.75. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.21 and a current ratio of 1.30.
About Texas Capital Bancshares
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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