Texas Capital Bancshares (NASDAQ:TCBI) Releases Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Texas Capital Bancshares (NASDAQ:TCBI) issued its quarterly earnings data on Wednesday. The bank reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.39, FiscalAI reports. The company had revenue of $356.60 million for the quarter, compared to analysts’ expectations of $339.89 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%.

Texas Capital Bancshares Stock Up 2.7%

NASDAQ TCBI traded up $2.43 on Wednesday, hitting $93.49. 578,224 shares of the company were exchanged, compared to its average volume of 492,237. The company has a market cap of $4.06 billion, a PE ratio of 12.16, a PEG ratio of 0.96 and a beta of 0.63. Texas Capital Bancshares has a 12 month low of $80.94 and a 12 month high of $108.92. The stock has a fifty day moving average of $95.66 and a 200-day moving average of $98.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15.

Insiders Place Their Bets

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of Texas Capital Bancshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $100.03, for a total value of $204,561.35. Following the completion of the sale, the insider directly owned 7,529 shares of the company’s stock, valued at approximately $753,125.87. The trade was a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.91% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the topic of several recent research reports. Royal Bank Of Canada cut their target price on Texas Capital Bancshares from $114.00 to $113.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Texas Capital Bancshares in a research note on Friday, October 2nd. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research report on Wednesday, July 1st. Raymond James Financial cut their price objective on Texas Capital Bancshares from $115.00 to $108.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Finally, TD Cowen reduced their target price on Texas Capital Bancshares from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.42.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank primarily serves commercial and middle-market businesses, entrepreneurs, professionals, high-net-worth individuals and institutions.

Texas Capital Bank offers commercial and private banking services, including business and personal deposit accounts, commercial and real estate lending, treasury management, wealth management and related financial solutions.