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Wednesday, March 3, 2021

Texas Capital: 4Q Earnings Snapshot

DALLAS (AP) _ Texas Capital Bancshares Inc. (TCBI) on Thursday reported fourth-quarter profit of $60.2 million.

The Dallas-based bank said it had earnings of $1.14 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The holding company for Texas Capital Bank posted revenue of $298 million in the period. Its revenue net of interest expense was $265.9 million, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $249.4 million.

For the year, the company reported profit of $56.5 million, or $1.12 per share. Revenue was reported as $1.05 billion.

Texas Capital shares have climbed 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $66.60, a rise of 24% in the last 12 months.

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