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UPDATE: Credit Suisse Initiates Texas Capital Bancshares at Neutral on Valuation

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Credit Suisse initiated coverage on Texas Capital Bancshares (NASDAQ: TCBI) with a Neutral rating and a $46 price target.

Credit Suisse noted, "We are initiating coverage of Texas Capital with a Neutral rating, based on valuation and its growing reliance on the mortgage warehouse that has benefitted from dislocation and an ongoing decline in rates. TCBI still stands out as one of the few commercial banking franchises that have a demonstrated ability to grow loans HFI by +15% in the current environment."

Texas Capital Bancshares closed at $43.78 on Monday.

Latest Ratings for TCBI

DateFirmActionFromTo
May 2016Hovde GroupUpgradesUnderperformMarket Perform
May 2016Raymond JamesUpgradesOutperformStrong Buy
Apr 2016Hovde GroupDowngradesMarket PerformUnderperform

View More Analyst Ratings for TCBI
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Intraday Update Analyst Ratings

 

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