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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%)
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)
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.
Aug. 17, 2015, 10:17 AM| Aug. 17, 2015, 10:17 AM
Dec. 8, 2014, 1:17 PM
- Dallas-based Comerica (CMA -1.3%) is an outlier to the downside among the regional names as oil tumbles another 3.7% to the lowest level since the summer of 2009.
- Other lenders with sizable Texas-operations and exposure to energy credit: MidSouth Bancorp (MSL +0.9%), BOK Financial (BOKF -0.6%), Cullen/Frost (CFR -1.5%), Hancock Holding (HBHC -0.9%), Green Bancorp (GNBC -0.7%), ViewPoint Financial (VPFG -0.5%), Iberiabank (IBKC +0.1%), National Bank Holdings (NBHC +0.1%), Texas Capital (TCBI -1.3%), Prosperity Bancshares (PB -0.8%), Independent Bank Group (IBTX -1%), Hilltop Holdings (HTH -0.7%), First Interstate BancSystem (FIBK +0.4%), First Financial Bankshares (FFIN -0.8%)
Nov. 13, 2014, 10:53 AM
- Texas Capital (TCBI -4.1%) sold 2.523M shares and expects net proceeds of roughly $149.6M to help support future loan growth.
Sep. 19, 2014, 9:11 AM
- The team doubles down on Outperform ratings on Zions Bancorp (NASDAQ:ZION) and Synovus Financial (NYSE:SNV), upgrading both to Strong Buy. ZION is up 1.3% premarket.
- Texas Capital Bancshares (NASDAQ:TCBI) gets a two-notch upgrade - from Market Perform to Strong Buy - and First Horizon National (NYSE:FHN) is boosted to Outperform from Market Perform.
- The team partially cashes in its chips on United Community Bank, downgrading to Outperform from Strong Buy. Iberiabank (NASDAQ:IBKC) is cut to Market Perform from Outperform.
- Cut to Underperform from Market Perform is First Financial Bankshares (NASDAQ:FFIN).
Apr. 30, 2014, 10:28 AM
- Bridge Bancorp (BDGE +1.1%) is upgraded to Buy by Guggenheim.
- First Financial Bankshares (FFIN +0.2%) has its Sell rating pulled at Macquarie.
- MidSouth Bancorp (MSL +1.6%) is upgraded to Outperform by FIG Partners.
- S&T Bancorp (STBA +0.6%) is upgraded to Outperform by KBW after posting Q1 results yesterday.
- Deustche Bank boosts Texas Capital Bancshares (TCBI +0.6%) to Buy.
- Sterne Agee upgrades The Bancorp (TBBK +0.5%) to Buy with an $18 PT.
- In other financial sector moves, Main Street (MAIN -0.5%) is upgraded to Outperform by Raymond James with a $34 PT, and Waddell & Reed Financial (WDR +0.6%) has been upgraded to Outperform by KBW.
Apr. 24, 2014, 3:18 PM
- Net income of $28.3M fell 15% from a year ago, and EPS of $0.60 fell 25% after January's capital raise.
- Q1 saw non-performing assets rise, primarily attributable to one borrower. Non-accrual loans of $43.6M, or 0.48% of loans ticked up 10 basis points from Q4.
- Raymond James downgrades the stock to Market Perform from Outperform.
- Previously: Texas Capital Bancshares misses by $0.13
- TCBI -12.3%
Apr. 24, 2014, 12:46 PM
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