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

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

Texas Capital Bancshares Price Performance

TCBI stock traded up $2.43 on Wednesday, hitting $93.49. 578,264 shares of the company’s stock traded hands, compared to its average volume of 492,340. Texas Capital Bancshares has a 1-year low of $80.94 and a 1-year high of $108.92. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.96 and a beta of 0.63. 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 that occurred 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 transaction, the insider owned 7,529 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen dropped 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. Stephens lowered their price target on Texas Capital Bancshares from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Fundamental Research set a $110.00 price objective on Texas Capital Bancshares in a research note on Wednesday, July 1st. Raymond James Financial dropped 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, JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday, October 1st. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.