Research Analysts’ Recent Ratings Updates for Texas Capital Bancshares (TCBI)
Texas Capital Bancshares (NASDAQ: TCBI) was the recipient of a ratings changes during the seven days:
- Texas Capital Bancshares had its “neutral” rating reaffirmed by analysts at Credit Suisse. They now have a $55.00 price target on the stock.
- Texas Capital Bancshares had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $62.00 price target on the stock, up previously from $61.00.
- Texas Capital Bancshares was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
- Texas Capital Bancshares had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $65.00 price target on the stock.
- Texas Capital Bancshares was upgraded by analysts at Deutsche Bank from a “hold” rating to a “buy” rating. They now have a $63.00 price target on the stock, up previously from $62.00. They wrote, “We believe the sell-off (-14%) following another large core EPS miss in 1Q14 is overdone, and expect shares to trade at a stronger premium vs. the group one year out. (1) Stronger core EPS trends vs. the group in FY15 (24% vs. 9%) supported by stronger, above peer loan/deposit growth through FY15 due to recent hires and continued strength expected in the TX economy, which should drive stronger core NII gr. in FY14/15 (+13%/19%) despite further NIM pressure, more than offsetting continued strong expense growth. Multiple new hires from mid 2013 should gain greater traction by 2H14. “Additionally, warehouse trends, which were a headwind in 1Q, could actually strengthen in 2Q14 while pricing pressure eases in this business, further supporting NII trends. “Finally, we highlight the bank’s solid asset sensitivity and stronger core EPS growth, both of which likely continue to support premium trading multiples to the group. TCBI is one of the most asset sensitive banks, (just under 90% of loans reprice immediately). Our TP reflects a 17.5x P/E on FY15 (vs. the current P/E of 18.8x FY14) and 15.5x the midpoint of our core EPS est. range for FY16 excluding rate hikes (vs. the current industry P/E of 13.8x FY15).”
Shares of Texas Capital Bancshares Inc (NASDAQ:TCBI) traded down 1.05% during mid-day trading on Thursday, hitting $55.60. The stock had a trading volume of 617,030 shares. Texas Capital Bancshares Inc has a 52 week low of $40.43 and a 52 week high of $67.08. The stock has a 50-day moving average of $62.81 and a 200-day moving average of $58.83. The company has a market cap of $2.377 billion and a P/E ratio of 20.66.
Texas Capital Bancshares, Inc, is a financial holding company. The Company is the parent of Texas Capital Bank, National Association (NASDAQ:TCBI).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.