Barclays Lifts PT and Estimates on Texas Capital Bancshares (TCBI); Still a Few Reservations

Barclays maintains an 'Equalweight' on Texas Capital Bancshares (NASDAQ: TCBI) price target raised from $32 to $40.

Analyst, Jason M. Goldberg, said, "In addition to posting a healthy 1Q12 EPS beat, TCBI characterized its loans held for investment pipeline as "exceptionally strong," pointed to its 2012 average held for sale balances coming in well above 2011's level ($1.2bn), and predicted strong future earnings and industry leading results...Reflecting its 1Q12 beat and an increase to our average earning asset and fee income forecasts, we are raising our 2012 EPS estimate to $2.95 from $2.23. Our 2013 EPS estimate also increases to $3.15 from $2.45."

However, Goldberg maintains an EW-rating on TCBI, saying he still has reservations on sustaining strong warehouse mortgage growth.

For an analyst ratings summary and ratings history on Texas Capital Bancshares click here. For more ratings news on Texas Capital Bancshares click here.

Shares of Texas Capital Bancshares closed at $34.78 yesterday.

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