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Last $59.23 USD
Change Today +0.60 / 1.02%
Volume 396.4K
As of 5:20 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

texas capital bancshares inc (TCBI) Key Developments

Texas Capital BancShares Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Net Charge Offs for the Second Quarter Ended June 30, 2015

Texas Capital BancShares Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $153,374,000 against $124,813,000 a year ago. Net interest income was $142,285,000 against $115,407,000 a year ago. Income before income taxes was $59,280,000 against $52,175,000 a year ago. Net income available to common stockholders was $35,500,000 against $30,984,000 a year ago. Diluted EPS was $0.76 against $0.71 a year ago. Return on average assets was 0.83% against 1.08% a year ago. Return on average common equity was 10.32% against 11.38% a year ago. The ROE decrease resulted from the 23% year-over-year increase in average common equity, reflecting the impact of the common stock offering completed in the fourth quarter of 2014. The ROA decrease resulted from a combination of reduced yields on loans and a $2.1 billion increase in average liquidity assets, which include Federal funds sold and deposits in other banks, from the second quarter of 2014 to the second quarter of 2015. For six months, the company reported total interest income of $294,282,000 against $241,424,000 a year ago. Net interest income was $272,294,000 against $223,722,000 a year ago. Income before income taxes was $114,039,000 against $96,529,000 a year ago. Net income available to common stockholders was $68,112,000 against $56,811,000 a year ago. Diluted EPS was $1.47 against $1.30 a year ago. Tangible book value as on June 30, 2015 was $30.22 against $25.33 a year ago. Book value was $30.66 compared to $25.82 a year ago. Net charge-offs for the second quarter of 2015 were $3.7 million compared to $2.5 million in the second quarter of 2014.

Texas Capital BancShares Inc. to Report Q2, 2015 Results on Jul 22, 2015

Texas Capital BancShares Inc. announced that they will report Q2, 2015 results at 4:00 PM, US Eastern Standard Time on Jul 22, 2015

Texas Capital BancShares Inc., Q2 2015 Earnings Call, Jul 22, 2015

Texas Capital BancShares Inc., Q2 2015 Earnings Call, Jul 22, 2015

NASDAQ Notifies Texas Capital Bancshares Of Compliance To Listing Rule 5460(a)(4)

On May 13, 2015, Texas Capital Bancshares, Inc. reported that it had received a written notification from The Nasdaq Stock Market that the Company had failed to provide Nasdaq with evidence that the Company’s 6.50% Non-Cumulative Perpetual Preferred Stock, Series A was held by at least 100 public holders as required by Nasdaq Listing Rule 5460(a)(4). The Company submitted evidence to Nasdaq that the Preferred Stock has more than 100 public holders and on May 19, 2015, Nasdaq notified the Company of its determination that the Company complies with the Rule and that the matter is now closed.

Texas Capital Bancshares Receives Non-Compliance Notice From NASDAQ

On May 7, 2015, Texas Capital Bancshares, Inc. received a written notification from The Nasdaq Stock Market notifying the Company that it had failed to comply with Nasdaq Listing Rule 5460(a)(4) with respect to its 6.50% Non-Cumulative Perpetual Preferred Stock, Series A. The Rule requires preferred stock listed on Nasdaq to maintain at least 100 public holders, including both beneficial holders and holders of record, among other requirements. The Company received the Notification because it failed to provide evidence that it met the requirement of 100 public holders for the Preferred Stock. The Notification had no immediate effect on the listing of the Company’s Preferred Stock, and is not expected to have an impact on the listing of the Company’s common stock. The Company has 45 calendar days to submit a plan to regain compliance. The Company believes it is in compliance with the Rule and is working to obtain evidence of its compliance. If such evidence is obtained, the Company intends to submit that evidence to Nasdaq for its consideration within the timeframe provided. Nasdaq will then notify the Company of its determination with respect to the continued listing of the Preferred Stock.

 

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Industry Analysis

TCBI

Industry Average

Valuation TCBI Industry Range
Price/Earnings 19.3x
Price/Sales 5.0x
Price/Book 1.9x
Price/Cash Flow 18.2x
TEV/Sales NM Not Meaningful
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