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Texas Capital: 3Q Earnings Snapshot

DALLAS (AP) _ Texas Capital Bancshares Inc. (TCBI) on Wednesday reported third-quarter net income of $88.1 million.

The Dallas-based bank said it had earnings of $1.70 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The holding company for Texas Capital Bank posted revenue of $375.4 million in the period. Its revenue net of interest expense was $272.5 million, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $262.1 million.

Texas Capital shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.57, a fall of 28% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TCBI at https://www.zacks.com/ap/TCBI