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UPDATE: Jefferies Initiates Coverage on Texas Capital Bancshares on Solid Long-Term Growth Profile

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In a report published Monday, Jefferies analyst Emlen Harmon initiated coverage on Texas Capital Bancshares (NASDAQ: TCBI) with a Buy rating and $55.00 price target.

In the report, Jefferies noted, “We are initiating coverage of Texas Capital (TCBI) with a Buy rating and $55 price target. We believe the company has a solid long-term growth profile, backed by a strong Texas footprint, market share gains, and positioning for an eventual rise in short-term rates. While concerns over run-off in the company's mortgage warehouse portfolio have weighed on shares relative to peers, we feel our estimates reflect a conservative view of the business.”

Texas Capital Bancshares closed on Friday at $47.60.

Latest Ratings for TCBI

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

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Posted-In: Emlen Harmon JefferiesAnalyst Color Initiation Analyst Ratings

 

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