Texas Capital Bancshares, Inc. (NASDAQ:TCBI) is reporting third quarter financial results on Wednesday 21st October 2020, after market close.
According to analysts surveyed by Thomson Reuters, TCBI is expected to report 3Q20 income of $ 0.59 per share from revenue of $ 255.35 million.
For the full year, analysts anticipate top line of $ 1029.29 million, while looking forward to income of $ 0.16 per share bottom line.
Previous Quarter Performance
Texas Capital Bancshares, Inc. reported income for the second quarter of $ 0.26 per share, from the revenue of $ 280.43 million. The quarterly earnings shrunk 82.67 percent while revenues elevated 4.67 percent compared with the same quarter last year.
Street analysts expected Texas Capital Bancshares, Inc. to report income of $ 0.16 per share on revenue of $ 239.15 million for the second quarter. The bottom line results beat street analysts by $ 0.1 or 62.50 percent, at the same time, top line results outshined analysts by $ 41.28 million or 17.26 percent.
Stock Performance
Shares of Texas Capital Bancshares, Inc. traded low $ -0.24 or -0.64 percent on Tuesday, reaching $ 37.31 with volume of 247.40 thousand shares. Texas Capital Bancshares, Inc. has traded high as $ 38.76 and has cracked $ 37.21 on the downward trend
The closing price of $ 37.31, representing a 96.60 % increase from the 52 week low of $ 19.10 and a 42.12 % decrease over the 52 week high of $ 64.88.
The company has a market capital of $ 1.88 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 8th October 2020, downgraded by Bank of America to Underperform from Neutral rating.
- On 30th September 2020, maintained by Piper Sandler at Neutral rating, with $ 36.00 target price.
Conference Call
Texas Capital Bancshares, Inc. will be hosting a conference call at 5:00 PM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.texascapitalbank.com
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.
