Texas Capital Bancshares, Inc.NASDAQ
After A Post-Panic Rebound, It's Harder To Find Value In Texas Capital Bancshares
Stephen Simpson, CFA
Stephen Simpson, CFA
Tue, Nov. 29, 7:55 AM
- Texas Capital Bancshares (NASDAQ:TCBI) sold 3M shares at a deal range of $69.50-$71.50. The underwriters have a greenshoe option for another 450K shares. The stock's lower by 3.6% premarket to $70.55.
- Fidus Investment (NASDAQ:FDUS) priced its 2.5M share capital raise at $16.65 each. Shares -3.6% premarket to $16.45.
- Everbank (NYSE:EVER) sold 7M shares (for a selling shareholder) at $19.25 each. The stock's inactive premarket.
Mon, Nov. 28, 4:11 PM
- What a difference a few months make. A $30 stock at the bottom of the oil crash last February, Texas Capital Bancshares (NASDAQ:TCBI) closed today at $73.15 and is selling 3M shares in a secondary offering. The greenshoe for underwriters JPMorgan, Morgan Stanley, and BAML is for another 450K shares.
- Shares fell 3.1% in today's session.
Fri, Nov. 11, 8:15 AM
Thu, Oct. 20, 4:03 PM
Wed, Oct. 19, 5:35 PM
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
- Texas Capital Bancshares (NASDAQ:TCBI): Q1 EPS of $0.49 misses by $0.18.
- Revenue of $156.08M (+9.7% Y/Y) misses by $3.12M.
- Shares -3.1%.
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