Texas Capital Bancshares, Inc. (
TCBI - Analyst Report) reported third-quarter 2011 operating earnings of $0.56 per share, which came well ahead of the Zacks Consensus Estimate of $0.50 per share. The results were also above the prior-year quarter's
earnings of $0.25 per share. Quarterly results benefited from an increase in net interest income.
Texas Capital's net interest income stemmed from spiked average earnings assets. Net interest margin also increased year over year, driven by growth in loans and a reduction in funding costs. This was also supported by an improvement in loan spreads.
Credit metrics also improved during the quarter at Texas Capital. After reviewing the results, we are maintaining our Outperform recommendation on the shares.
Texas Capital Bancshares (TCBI) : FULL ANALYST REPORT
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Read the full analyst report on TCBI