Texas Capital Bancshares: Decent Bank At Bargain Price
Wed, Jul. 20, 4:11 PM
Tue, Jul. 19, 5:35 PM
Wed, Jun. 29, 7:31 AM
- An increased risk of a pullback in oil prices and a lower for longer outlook on interest rates has BAML downgrading Texas Capital Bancshares (NASDAQ:TCBI) to Neutral from Buy. The price target of $48 compares to yesterday's $43.24 close.
- TCBI rallied from about $30 at the February lows all the way to $50 just ahead of the Brexit vote.
Mon, May 9, 9:56 AM
- Catching upgrades to Outperform from Neutral at Raymond James today are BOK Financial (BOKF -0.6%), Comerica (CMA), and Hancock Holdings (HBHC +1.4%).
- Boosted to Strong Buy are Zions Bancorp (ZION -0.3%), Texas Capital (TCBI +0.7%), and Midsouth Bancorp (MSL +1.1%).
- Prosperity Bancorp (PB +0.8%) gets a two-notch upgrade to Outperform from Underperform.
- The group has already put in a strong rally off the lows, with each higher by anywhere from about 10-30% over the past three months, but down by about 7-30% on a year-over-year basis.
Wed, Apr. 20, 4:29 PM
Tue, Apr. 19, 5:35 PM| Tue, Apr. 19, 5:35 PM | 16 Comments
Thu, Jan. 28, 9:40 AM
- Nice post-earnings bounces continue for Comerica (CMA +3.3%) and Prosperity Bancshares (PB +4.5%) as oil soars above $34 per barrel on chatter of production cuts.
- Also at work, BMO Capital pulls its Underperform rating on Comerica, and Evercore pulls its Sell rating on Prosperity. Alongside that is DA Davidson upgrading Prosperity to Buy from Neutral.
- Previously: Comerica beats by $0.02, beats on revenue (Jan. 19)
- Previously: Prosperity Bancshares launches buyback (Jan. 27)
- Previously: Prosperity Bancshares beats by $0.01, misses on revenue (Jan. 27)
- Other energy-exposed lenders: Cullen/Front (CFR +3.9%), Texas Capital (TCBI +2.5%), Independent Bank Group (IBTX +11.6%), Zions Bancorp (ZION +2.8%)
Wed, Jan. 27, 10:33 AM
- Comerica's Texas Economic Activity Index fell 60 basis points in November to 94.1. This stands against an index average of 105.2 for all of 2014. The gauge has now fallen for 12 of the last 13 months.
- The index is comprised of eight variables: nonfarm payrolls, exports, hotel occupancy, continue jobless claims, housing starts, sales taxes, home prices, and Baker Hughes rig count.
- Four of the eight fell during November, but payrolls were higher, though the growth has "stepped down" from 2013 and 2014.
- Banks of interest: Comerica (CMA +0.9%), Prosperity (PB +4.1%), Cullen/Frost (CFR -1.3%), Texas Capital (TCBI +3.2%), Independent Bank Group (IBTX -1.6%).
Thu, Jan. 21, 10:05 AM
- Q4 net income of $32.3M fell 9% from one year ago, with EPS of $0.70 falling 10%. ROA of 0.72% down 31 basis points; ROE of 8.82% down 259 bps. Tangible book value per share of $31.69 up 10%.
- Non-performing asset ratio of 1.08% in Q4 jumps from 0.69% in Q3 and 0.31% a year ago. Net charge-offs of $2M slipped from $2.3M in Q3, and rose from $1.1M a year ago. None of the charge-offs were related to energy loans.
- TCBI -6.9% today and nearly 30% YTD.
- Previously: Texas Capital Bancshares misses by $0.02, misses on revenue (Jan. 20)
Wed, Jan. 20, 4:06 PM
- Texas Capital Bancshares (NASDAQ:TCBI): Q4 EPS of $0.70 misses by $0.02.
- Revenue of $153.51M (+10.6% Y/Y) misses by $1.25M.
Tue, Jan. 19, 5:35 PM
Mon, Jan. 11, 11:58 AM
- Associated Banc-Corp (ASB +0.5%) after the close on Friday announced a Q4 increase of $13M in the loan loss allowance for its energy portfolio. The move brings the loss ratio up to 5.6% at year-end vs. 3.8% a quarter earlier, and will cut EPS by about $0.03. Full results are due on Jan. 21.
- The warning is notable, says Evercore ISI's Stephen Moss, in that the bank's $752M energy portfolio (4% of total loans) consists entirely of 1st-lien E&P credits on oil and gas reserves. Previously, Evercore had seen the greatest near-term risk to earnings as coming from oilfield services loans, but the ASB move suggests rapidly growing stresses for E&P borrowers.
- Lenders on watch include: Cullen/Frost (CFR -0.6%), where energy makes up 16% of total loans, Zions (ZION -0.8%) (8%), Comerica (CMA -0.1%) (7%), Texas Capital Bancshares (TCBI +0.1%) (7%), Independent Bank Group (IBTX +0.9%) (7%), and Prosperity Bancshares (PB -0.9%) (4%). Cullen/Frost and Prosperity are reiterated at Sell.
Dec. 8, 2015, 1:35 PM
- The selloff in financial names is a broad one, but those seen as especially reliant on energy deals and lending are suffering worst as oil and natural gas make new multi-year lows.
- Among the movers: Comerica (CMA -2.9%), Zions (ZION -3.3%), Prosperity (PB -3.3%), Cullen/Frost (CFR -2.6%), MidSouth Bancorp (MSL -1.4%), BOK Financial (BOKF -3.2%), Hancock Holding (HBHC -3.8%), Green Bancorp (GNBC -0.1%), Iberiabank (IBKC -3%), National Bank Holdings (NBHC -0.5%), Texas Capital (TCBI -4.6%), Independent Bank Group (IBTX -2.6%), Interstate BancSystem (FIBK -1.1%), First Financial Bankshares (FFIN -3.5%).
- Screening the whole group against the KRE finds only Interstate BancSystem as outperforming over the past month.
Oct. 21, 2015, 4:09 PM
- Texas Capital Bancshares (NASDAQ:TCBI): Q3 EPS of $0.75 beats by $0.01.
- Net interest income of $142.05M (+13.0% Y/Y) misses by $13.96M.
Oct. 20, 2015, 5:35 PM| Oct. 20, 2015, 5:35 PM | 7 Comments
Aug. 17, 2015, 10:17 AM| Aug. 17, 2015, 10:17 AM
Texas Capital Bancshares, Inc. operates as the holding company for Texas Capital Bank NA. The company provides commercial banking services to its customers in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. Its loan portfolio... More
Industry: Regional - Southwest Banks
Country: United States
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