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Texas Capital (TCBI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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.
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Texas Capital (TCBI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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.