Texas Capital Bancshares (TCBI) PT Raised to $67 at Stephens Following 4Q

Stephens analyst Matt Olney raised the price target on Texas Capital Bancshares (NASDAQ: TCBI) to $67.00 (from $59.00) while maintaining a Equal Weight rating following 4Q. TCBI reported operating EPS of $1.38, below consensus estimates of $1.60. Stephens' lowered 2019 and 2020 EPS forecasts assume $6.30 and $6.73, down from $6.53 and $6.88.

TCBI’s elevated NCOs in 2018 were primarily driven by its leveraged lending portfolio and investors are now trying to understand if the Bank is better positioned having already purged its portfolio of mediocre credits.

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