Wedbush Starts Texas Capital Bancshares (TCBI) at Neutral
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Wedbush initiates coverage on Texas Capital Bancshares (NASDAQ: TCBI) with a Neutral rating and a price target of $54.00.
Analyst Peter Winter commented, "TCBI is one of the few true organic growth companies in banking, driven by hiring experienced bankers from larger banks. Total assets have more than tripled from $6.4 billion in 2010 to $21.1 billion in 2Q16 without an acquisition. In addition, TCBI has been making investments to grow its fee income businesses and build out its mortgage business. Finally there is a significant amount of earnings leverage from a rise in rates. However, we believe a lot of the good news is already in the stock price, which is trading at a well-deserved premium to its regional bank peers."
Shares of Texas Capital Bancshares closed at $57.47 yesterday.
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