Texas Capital Bancshares (NASDAQ:TCBI) Posts Earnings Results, Beats Estimates By $0.10 EPS

Texas Capital Bancshares (NASDAQ:TCBI) issued its quarterly earnings data 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. Texas Capital Bancshares had a return on equity of 7.68% and a net margin of 12.99%. The company had revenue of $227.10 million during the quarter, compared to the consensus estimate of $240.67 million. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was down 19.3% compared to the same quarter last year.

Texas Capital Bancshares stock traded up $0.31 during mid-day trading on Thursday, reaching $62.72. The stock had a trading volume of 16,554 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 company has a 50-day simple moving average of $66.14. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 22.45 and a beta of 1.83.

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 of the company’s stock, valued at $363,574.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert W. Stallings bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 23rd. The shares were bought 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. Company insiders own 0.64% of the company’s stock.

A number of brokerages have recently issued reports on TCBI. Truist Securities upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $85.00 in a research report on Tuesday, May 11th. Piper Sandler upgraded Texas Capital Bancshares from a “neutral” rating to an “overweight” rating and set a $75.00 target price for the company in a report on Thursday. Keefe, Bruyette & Woods upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $86.00 target price for the company in a report on Monday, March 29th. They noted that the move was a valuation call. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “neutral” rating and set a $79.00 target price for the company in a report on Monday, March 29th. Finally, Truist upgraded Texas Capital Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $85.00 in a report on Tuesday, May 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $70.88.

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 for Texas Capital Bancshares (NASDAQ:TCBI)

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