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Fly News Breaks for February 20, 2020
Feb 20, 2020 | 06:09 EDT
UBS analyst Brock Vandelvliet upgraded Texas Capital (TCBI) to Neutral from Sell with a price target of $58, up from $54. The analyst notes that the credit quality deterioration and lower net interest income that drove his prior downgrade last August has been priced in, and the company's downsizing of its mortgage finance business represents a "major strategic shift". Vandelvliet also believes that Texas Capital's merger with Independent Bank of Texas (IBTX) should result in a "more profitable and less volatile franchise over time".
News For TCBI;IBTX From the Last 2 Days
Apr 21, 2021 | 16:05 EDT
Reports Q1 book value per share $53.59. Reports Q1 CET1 capital ratio 10.2%. Reports Q1 net charge-offs .11%. "In my first 90 days as CEO, we have achieved momentum in establishing the foundation from which we can move forward," said Rob Holmes, president and CEO. "In the first quarter alone, we were able to execute the largest capital raise in our history and close on our first warehouse lending credit risk transfer transaction, both of which position TCBI for future growth. Looking ahead, we will continue to supplement our workforce with new talent, take steps to drive shareholder value and develop our fulsome long-term strategy. As promised, I look forward to sharing it with you in the third quarter."