For the quarter ended March 2024, Texas Capital (TCBI - Free Report) reported revenue of $256.33 million, down 6% over the same period last year. EPS came in at $0.62, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of +1.21% over the Zacks Consensus Estimate of $253.27 million. With the consensus EPS estimate being $0.59, the EPS surprise was +5.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Texas Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 79% versus 74.8% estimated by six analysts on average.
- Net interest margin: 3% versus 3% estimated by six analysts on average.
- Average Balance - Total earning assets: $28.19 billion compared to the $28.71 billion average estimate based on five analysts.
- Net charge-offs to average total loans held for investment for last 12 months: 0.2% versus 0.3% estimated by four analysts on average.
- Total non-performing assets: $102.10 million versus the two-analyst average estimate of $86.74 million.
- Non-accrual loans held for investment: $92.85 million compared to the $86.74 million average estimate based on two analysts.
- Total Non-Interest Income: $41.32 million versus $39.14 million estimated by six analysts on average.
- Net Interest Income: $215.01 million compared to the $213.57 million average estimate based on six analysts.
- Net Interest Income (FTE): $215.08 million versus $213.78 million estimated by five analysts on average.
- Service charges on deposit accounts: $6.34 million versus $5.63 million estimated by three analysts on average.
- Other Non-Interest Income: $6.37 million versus the three-analyst average estimate of $9.68 million.
- Brokered loan fees: $1.91 million versus the three-analyst average estimate of $2.41 million.
View all Key Company Metrics for Texas Capital here>>>Shares of Texas Capital have returned -7.3% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
For the quarter ended March 2024, Texas Capital (TCBI - Free Report) reported revenue of $256.33 million, down 6% over the same period last year. EPS came in at $0.62, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of +1.21% over the Zacks Consensus Estimate of $253.27 million. With the consensus EPS estimate being $0.59, the EPS surprise was +5.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Texas Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 79% versus 74.8% estimated by six analysts on average.
- Net interest margin: 3% versus 3% estimated by six analysts on average.
- Average Balance - Total earning assets: $28.19 billion compared to the $28.71 billion average estimate based on five analysts.
- Net charge-offs to average total loans held for investment for last 12 months: 0.2% versus 0.3% estimated by four analysts on average.
- Total non-performing assets: $102.10 million versus the two-analyst average estimate of $86.74 million.
- Non-accrual loans held for investment: $92.85 million compared to the $86.74 million average estimate based on two analysts.
- Total Non-Interest Income: $41.32 million versus $39.14 million estimated by six analysts on average.
- Net Interest Income: $215.01 million compared to the $213.57 million average estimate based on six analysts.
- Net Interest Income (FTE): $215.08 million versus $213.78 million estimated by five analysts on average.
- Service charges on deposit accounts: $6.34 million versus $5.63 million estimated by three analysts on average.
- Other Non-Interest Income: $6.37 million versus the three-analyst average estimate of $9.68 million.
- Brokered loan fees: $1.91 million versus the three-analyst average estimate of $2.41 million.
View all Key Company Metrics for Texas Capital here>>>Shares of Texas Capital have returned -7.3% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Get the latest research report on TCBI - FREE