Regional banking firm Texas Capital Bancshares (NASDAQ:TCBI) will be reporting results this Thursday before market open. Here’s what to expect.
Texas Capital Bank missed analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $280.5 million, up 9.4% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates.
Is Texas Capital Bank a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Texas Capital Bank’s revenue to grow 12.2% year on year to $299.5 million, a reversal from the 4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.29 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Texas Capital Bank has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Texas Capital Bank’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fulton Financial’s revenues decreased 3.2% year on year, beating analysts’ expectations by 1.9%, and FB Financial reported a revenue decline of 40.1%, falling short of estimates by 43.5%. FB Financial traded down 4.4% following the results.
Read our full analysis of Fulton Financial’s results here and FB Financial’s results here.
There has been positive sentiment among investors in the banks segment, with share prices up 8.3% on average over the last month. Texas Capital Bank is up 12.4% during the same time and is heading into earnings with an average analyst price target of $81.62 (compared to the current share price of $84.91).
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