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Fly News Breaks for January 8, 2019
TCBI
Jan 8, 2019 | 08:27 EDT
Jefferies analyst Casey Haire downgraded Texas Capital to Hold from Buy and lowered his price target on the stock to $50 from $89 citing his concern about the fact that mortgages make up 25% of total loans. Given cyclical headwinds in the mortgage industry, balances are likely to decline, and the "enormous" pricing pressure due to competition is unlikely to abate until later this year, Haire tells investors.
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