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Compared to Estimates, Texas Capital (TCBI) Q3 Earnings: A Look at Key Metrics
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Texas Capital (TCBI - Free Report) reported $278.94 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.5%. EPS of $1.18 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of +4.13% over the Zacks Consensus Estimate of $267.89 million. With the consensus EPS estimate being $1.03, the EPS surprise was +14.56%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 64.5% compared to the 66.2% average estimate based on seven analysts.
Net interest margin: 3.1% compared to the 3.3% average estimate based on seven analysts.
Average Balance - Total earning assets: $28.98 billion compared to the $28.12 billion average estimate based on five analysts.
Net charge-offs to average total loans held for investment for last 12 months: 0.3% versus the four-analyst average estimate of 0.2%.
Total non-performing assets: $63.13 million versus the three-analyst average estimate of $87 million.
Non-accrual loans held for investment: $63.13 million versus $87 million estimated by three analysts on average.
Total Non-Interest Income: $46.87 million versus $39.22 million estimated by seven analysts on average.
Net Interest Income: $232.07 million versus the seven-analyst average estimate of $228.77 million.
Net Interest Income (FTE): $232.14 million versus $227.70 million estimated by five analysts on average.
Service charges on deposit accounts: $5.30 million compared to the $5.18 million average estimate based on four analysts.
Other Non-Interest Income: $6.34 million versus $7.18 million estimated by four analysts on average.
Brokered loan fees: $2.53 million compared to the $2.57 million average estimate based on four analysts.
Shares of Texas Capital have returned -4% over the past month versus the Zacks S&P 500 composite's -3% 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.
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Compared to Estimates, Texas Capital (TCBI) Q3 Earnings: A Look at Key Metrics
Texas Capital (TCBI - Free Report) reported $278.94 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.5%. EPS of $1.18 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of +4.13% over the Zacks Consensus Estimate of $267.89 million. With the consensus EPS estimate being $1.03, the EPS surprise was +14.56%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 64.5% compared to the 66.2% average estimate based on seven analysts.
- Net interest margin: 3.1% compared to the 3.3% average estimate based on seven analysts.
- Average Balance - Total earning assets: $28.98 billion compared to the $28.12 billion average estimate based on five analysts.
- Net charge-offs to average total loans held for investment for last 12 months: 0.3% versus the four-analyst average estimate of 0.2%.
- Total non-performing assets: $63.13 million versus the three-analyst average estimate of $87 million.
- Non-accrual loans held for investment: $63.13 million versus $87 million estimated by three analysts on average.
- Total Non-Interest Income: $46.87 million versus $39.22 million estimated by seven analysts on average.
- Net Interest Income: $232.07 million versus the seven-analyst average estimate of $228.77 million.
- Net Interest Income (FTE): $232.14 million versus $227.70 million estimated by five analysts on average.
- Service charges on deposit accounts: $5.30 million compared to the $5.18 million average estimate based on four analysts.
- Other Non-Interest Income: $6.34 million versus $7.18 million estimated by four analysts on average.
- Brokered loan fees: $2.53 million compared to the $2.57 million average estimate based on four analysts.
View all Key Company Metrics for Texas Capital here>>>Shares of Texas Capital have returned -4% over the past month versus the Zacks S&P 500 composite's -3% 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.