Texas Capital Bancshares (NASDAQ:TCBI) Issues Quarterly 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, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10, MarketWatch Earnings reports. The firm had revenue of $227.10 million for the quarter, compared to analyst estimates of $240.67 million. Texas Capital Bancshares had a net margin of 12.99% and a return on equity of 7.68%. The firm’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share.

Shares of TCBI stock traded up $0.46 on Thursday, hitting $62.87. The company’s stock had a trading volume of 16,016 shares, compared to its average volume of 472,503. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.08. Texas Capital Bancshares has a fifty-two week low of $26.80 and a fifty-two week high of $93.26. The firm’s fifty day moving average price is $66.14. The firm has a market cap of $3.18 billion, a PE ratio of 22.45 and a beta of 1.83.

Several equities analysts have weighed in on the stock. Bank of America upgraded 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 research report on Monday, March 29th. Hovde Group upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $73.50 to $82.50 in a research report on Monday, April 5th. 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. Jefferies Financial Group reiterated a “hold” rating and set a $68.00 price objective on shares of Texas Capital Bancshares in a research report on Friday, May 7th. Finally, Piper Sandler upgraded shares of Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Buy” and an average target price of $70.88.

In other news, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction on Friday, April 23rd. The stock was purchased at an average price of $64.98 per share, with a total value of $324,900.00. Following the transaction, the director now directly owns 16,987 shares in the company, valued at $1,103,815.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Baliff sold 976 shares of the business’s stock in a transaction 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 directly owns 5,257 shares of the company’s stock, valued at approximately $363,574.12. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

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.

Further Reading: Beta

Earnings History for Texas Capital Bancshares (NASDAQ:TCBI)

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