Texas Capital Bancshares (NASDAQ:TCBI) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Texas Capital Bancshares (NASDAQ:TCBI) issued its quarterly earnings results on Tuesday. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10, MarketWatch Earnings reports. The firm had revenue of $227.10 million for the quarter, compared to the consensus estimate of $240.67 million. Texas Capital Bancshares had a net margin of 12.99% and a return on equity of 7.68%. The company’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS.

Shares of TCBI stock traded up $0.46 during mid-day trading on Thursday, hitting $62.87. The stock had a trading volume of 16,016 shares, compared to its average volume of 472,503. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 22.45 and a beta of 1.83. Texas Capital Bancshares has a 12-month low of $26.80 and a 12-month high of $93.26. The stock has a 50-day moving average of $66.14.

A number of research analysts recently issued reports on TCBI shares. Janney Montgomery Scott upgraded shares of Texas Capital Bancshares from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 7th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Thursday, July 8th. Piper Sandler upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 target price for the company in a research note on Thursday. Hovde Group raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $73.50 to $82.50 in a report on Monday, April 5th. Finally, Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “neutral” rating and set a $79.00 price objective on the stock in a report on Monday, March 29th. One investment 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 company has a consensus rating of “Buy” and a consensus target price of $70.88.

In related 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 in the company, valued at $363,574.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction on Friday, April 23rd. The shares were acquired at an average cost of $64.98 per share, with a total value of $324,900.00. Following the purchase, 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. Corporate 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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