Banks heavily exposed to oil and gas saw massive declines on Monday as the coronavirus fears were compounded by tumbling oil prices.
As every investor would know, not every swing hits the sweet spot. But you have a problem if you face massive losses...
DALLAS, April 22, 2020 -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the first quarter of 2020..
Texas Capital's (TCBI) Q1 results reflect a significant rise in provisions, owing to the adoption of CECL, reserve build related to the pandemic and higher expenses.
DALLAS, April 09, 2020 -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced today that it will release financial results for.
Texas Capital's (TCBI) all-stock merger of equals with Independent Bank Group (IBTX) mutually terminated on approval of the boards of both companies.
Texas Capital Bank, N.A., and its parent company Texas Capital Bancshares, Inc. (TCBI), collectively referred to herein as “Texas Capital,” today announced that C. Keith Cargill has stepped down as President and Chief Executive Officer and a member of the Board of Directors of both companies, effective immediately. Larry L. Helm, who has served as Chairman of the Texas Capital Bancshares Board since 2012, will serve as Executive Chair, CEO and President of both companies until a permanent successor has been named.
While growth in loan and deposit balances, and net revenues support People's United's (PBCT) Q1 earnings, higher non-interest expenses and provisions hurt.
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Texas Capital Bancshares and Independent Bank Group called off their merger on Tuesday, saying the coronavirus pandemic has hit markets too hard and crushed the benefits of tying up. The merger of these two Texas lenders would have created the second-largest bank by assets in the Lone Star state. While Texas has been looser than other states in applying quarantine measures, it still faces a sharp uptick in unemployment, with its energy sector hit hard by plunging oil prices.
NEW YORK, NY / ACCESSWIRE / May 27, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Texas Capital Bancshares, Inc. ("Texas Capital" or "the ...
Texas Capital Bancshares, Inc. (TCBI), the parent company of Texas Capital Bank, N.A., today announced that Texas Capital Bancshares, Inc. and Independent Bank Group, Inc. (IBTX), the holding company for Independent Bank, have mutually agreed to terminate their merger agreement, previously announced on December 9, 2019, under which the companies had agreed to combine in an all-stock merger of equals. “Due to the unprecedented impact of the COVID-19 pandemic, both companies’ boards of directors believe it is in the best interests of our employees, clients and all of our shareholders to focus on managing our business during this time,” said Larry Helm, Chairman, Texas Capital Bancshares.
Texas Capital (TCBI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Texas Capital Bancshares (TCBI) and Independent Bank (IBCP) have mutually agreed to terminate their merger agreement, previously announced on December 9, under which the parties had agreed to combine in an all-stock merger of equals.The companies have now entered into a Mutual Termination Agreement which was approved by the board of directors of both companies. Neither party will pay any termination fee. On the news Piper Sandler analyst Brad Milsaps downgraded TCBI from buy to hold, while slashing his price target from $41 to $26 (9% downside potential).David Brooks, CEO of Independent Bank Group (IBTX), said, “While both companies believed in the benefits of the proposed transaction when it was announced, we mutually concluded after careful consideration that, given the significant uncertainty caused by the COVID-19 pandemic and the resulting economic and market environment, it would not be prudent to continue to pursue the combination and integration of our companies at this time.”He added that the decision will allow each company to dedicate its focus and resources toward ensuring the strength of its business during these unprecedented times.Following the termination of the merger, Texas Capital also announced that C. Keith Cargill has stepped down as President and CEO and a member of the Board of Directors, effective immediately. However Cargill, who became CEO in 2014, will remain as Vice Chairman until the end of 2020.Larry L. Helm, who has served as Chairman of the Texas Capital Bancshares Board since 2012, will serve as Executive Chair, CEO and President until a permanent successor has been named, the company said.In addition, James H. Browning, an independent director and member of the Texas Capital Bancshares Board since 2009, has been appointed Lead Director.Elysia Ragusa, of Texas Capital, commented, “As part of our focus on succession planning, the Board believes that it is the right time for a transition in leadership as the Company executes a strategy to achieve enhanced operational focus and profitable, long-term value creation.”Shares in TCBI have plunged 50% year-to-date. Notably all seven analysts covering the stock rate it Hold, while the average analyst price target of $27 indicates a further 7% downside potential lies ahead. (See TCBI stock analysis on TipRanks).Related News: New HBO Max Streaming Service Will Go Live on Wednesday Alibaba Scores Earnings Beat With Revenue Surging 22% Y/Y Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises More recent articles from Smarter Analyst: * 3 "Strong Buy" Penny Stocks That Offer Massive Potential Gains * Logitech Shares Lifted In Pre-Market On Share Buyback Plan, 10% Dividend Boost * Billionaire Ackman Exits Berkshire Hathaway, Blackstone To Fund Opportunities * HBO Max Launches, But Not Yet Available on Amazon, Roku Platforms
Texas Capital (TCBI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Moody's Investors Service (Moody's) said that Texas Capital Bancshares, Inc.'s (long-term issuer rating Baa3 negative) termination of its merger agreement with Independent Bank Group, Inc. as a result of the coronavirus pandemic is credit positive. The merger termination removes these additional risks, which is credit positive for Texas Capital but it has no immediate implications for its ratings and outlook, which remains negative.
Texas Capital (TCBI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody's keeps Texas Capital's (TCBI) outlook negative despite mutual termination of the merger with Independent Bank on approval of the boards of the companies.
Texas Capital also approved $689 million in loans as part of the Small Business Administration’s Paycheck Protection Program, as of April 20.
Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh LLP may seek increased consideration, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders: