Texas Capital Bancshares (NASDAQ:TCBI) Announces Earnings Results

Texas Capital Bancshares (NASDAQ:TCBI) posted its quarterly earnings results on Tuesday. The bank reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10, MarketWatch Earnings reports. The company had revenue of $227.10 million for the quarter, compared to analyst estimates of $240.67 million. Texas Capital Bancshares had a return on equity of 7.68% and a net margin of 12.99%. Texas Capital Bancshares’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS.

TCBI traded up $0.18 during trading on Thursday, hitting $62.59. 14,766 shares of the stock were exchanged, compared to its average volume of 472,503. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 22.45 and a beta of 1.83. Texas Capital Bancshares has a 1-year low of $26.80 and a 1-year high of $93.26. The company’s fifty day simple moving average is $66.14. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.13.

A number of equities research analysts have issued reports on the company. Stephens reduced their price target on Texas Capital Bancshares from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $85.00 in a research report on Tuesday, May 11th. Truist Securities raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $85.00 in a research report on Tuesday, May 11th. Hovde Group raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the company from $73.50 to $82.50 in a research report on Monday, April 5th. Finally, Piper Sandler raised Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 target price on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.88.

In other Texas Capital Bancshares news, Director Jonathan Baliff sold 976 shares of Texas Capital Bancshares stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $69.16, for a total transaction of $67,500.16. Following the transaction, the director now owns 5,257 shares of the company’s stock, valued at $363,574.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Stallings purchased 5,000 shares of the business’s stock in a transaction on Friday, April 23rd. The shares were purchased at an average cost of $64.98 per share, for a total transaction of $324,900.00. Following the transaction, the director now owns 16,987 shares of the company’s stock, valued at $1,103,815.26. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

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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Earnings History for Texas Capital Bancshares (NASDAQ:TCBI)

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