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Fly News Breaks for April 19, 2018
TCBI
Apr 19, 2018 | 07:35 EDT
SunTrust analyst Jennifer Demba lowered her price target on Texas Capital to $100 after the company's Q1 earnings, noting its rising expenses and higher loan loss provision. The analyst raised her FY18 EPS estimate however to $5.96 from $5.81, citing higher margin expansion as well as her expectations of above-peer loan growth rates. Demba further contends that the premium valuation multiple on Texas Capital of 13.8-times expected FY19 earnings relative to 12.9-times for similarly sized peers is warranted based on its growth profile.
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