Texas Capital Bancshares (TCBI) PT Lowered to $97 at Stephens

Stephens analyst Matt Olney lowered the price target on Texas Capital Bancshares (NASDAQ: TCBI) to $97.00 (from $102.00) while maintaining a Overweight rating.

The analyst commented: "TCBI closed 2024 with solid 4Q results as the EPS beat was driven by lower op. expense and stronger fees. The company's updated 2025 guidance calls for a stronger fee outlook ($270 million vs. previous guide of $240 million) and higher op. ex. growth, while reiterating the target of 1.10% ROA in 2H25. We think the initial stock price pressure reflects the unexpected incremental investment spend. While not reflected in our forecast, we would not be surprised to see 2025 revenue guidance improve later in year, via fees, due to the recent investments of producers. Our $97 price target (was $102) represents a 15x multiple on our 2026 EPS forecast of $6.49 and 1.34x our 12 months TBVPS forecast. Our rating is Overweight."

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