Texas Capital Bancshares Q3 revenue, EPS beat estimates

Texas Capital Bancshares

Yesterday 21:16

Overview
US commercial bank's Q3 revenue rose and beat analyst expectations, adjusted EPS also beat
Company authorized new $200 mln share repurchase program
Fee income grew 14% yr/yr, driven by investment banking and advisory fees

Outlook
Texas Capital Bancshares did not provide specific financial guidance for future periods in the press release

Result Drivers
NET INTEREST INCOME - Co said record net interest income was driven by higher average earning asset yields and lower borrowings, partially offset by higher funding costs
FEE INCOME - Non-interest income rose due to higher investment banking and advisory fees and other non-interest income
CREDIT COSTS - Provision for credit losses increased from a year ago, reflecting higher criticized loans and net charge-offs

Company press release: ID:nGNXbwv66J

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$356.63 mln
$339.10 mln (9 Analysts)
Q3 Adjusted EPS
Beat
$2.35
$1.92 (11 Analysts)
Q3 EPS
 
$2.28
 
Q3 Net Interest Income
 
$274.98 mln
 
Q3 Net Interest Margin
 
3.44%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Texas Capital Bancshares, Inc. is $107.50, about 18.7% above its October 7 closing price of $90.58

Reuters Recommended Reads
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
Oct 19 - Zions Bancorp Q3 EPS rises 20% on improved credit quality
Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)