Texas Capital Bancshares Inc
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Financials : Banks | Small Cap Growth
Company profile

Texas Capital Bancshares, Inc. is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit. It also provides banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest-bearing and non-interest-bearing checking accounts; traditional money market and savings accounts; loans, both secured and unsecured, and Internet banking.

Postmarket

Last Trade
Delayed
$38.75
0.23 (0.60%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$38.52
Day's Change
1.21 (3.24%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
38.84
Day's Low
37.15
Volume
(Heavy Day)
Volume:
464,851

10-day average volume:
341,646
464,851

Alibaba earnings top expectations as pandemic drives increased digital purchases

6:59 am ET August 20, 2020 (MarketWatch)
Print

Alibaba Group Holding Ltd. (9988.HK) topped earnings and revenue estimates Thursday for its fiscal first quarter, and its shares were up 0.5% in premarket trading. The company reported net income of RMB47.59 billion ($6.74 billion), or RMB17.36 a share, up from RMB21.26 billion, or RMB8.06 a share, in the year-earlier quarter. Alibaba reported adjusted earnings per American depositary share of RMB14.82, up from RMB12.55 a year earlier and ahead of the FactSet consensus, which called for RMB13.82. Alibaba's revenue for the June quarter rose to RMB153.75 billion from RMB114.92 billion a year prior and came in above the FactSet consensus of RMB148 billion. "We were well positioned to capture growth from the ongoing digital transformation, which has been accelerated by the pandemic, in both consumption and enterprise operations," Chief Executive Daniel Zhang said in a release. Alibaba had 742 million annual active customers on its China retail marketplaces as of the June quarter, up 16 million from the March period. The company disclosed that gross merchandise volume for online physical goods on its Tmall marketplace grew 27% in the June quarter, "with all major categories growing at similar or faster rates compared to the December 2019 quarter, before the onset of the COVID-19 pandemic." Alibaba said that Tmall was benefitting from both greater order frequency and an influx of new customers. Alibaba shares have gained 20% over the past three months as the S&P 500 has risen 14% and as the KraneShares CSI China Internet ETF (KWEB) has added 29%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 20, 2020 06:59 ET (10:59 GMT)

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