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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
Apr 2015Raymond JamesDowngradesStrong BuyOutperform
Apr 2015BarclaysMaintainsEqual-weight
Apr 2015Deutsche BankMaintainsBuy

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

 

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