Analysts fell to the sidelines weighing in on Texas Capital Bancshares (TCBI) and Umpqua Holdings (UMPQ) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Texas Capital Bancshares (TCBI)
In a report released today, Matt Olney from Stephens maintained a Hold rating on Texas Capital Bancshares, with a price target of $64. The company’s shares closed yesterday at $58.49.
Olney said:
“We’re maintaining our price target of $64 which represents a 10x multiple on our 2020 EPS forecast of $6.40. We maintain our Equal-Weight rating. KEY EPS Beat Driven by Lower LLP Expense; Increasing Forecast. TCBI reported operating EPS of $1.46, above consensus estimates of $1.35. It should be noted that over the last month, the consensus 1Q19 EPS forecast had drifted down from $1.47 levels as management’s conference commentary around higher LLP expense was fully digested. Based on the earnings call commentary, it now appears management expects 2Q19 to represent the high water mark for 2019 LLP expense. We are increasing our 2019 operating EPS from $6.01 to $6.14 and our 2020 EPS from $6.36 to $6.40. We are increasing our PPNR forecast for 2019 and 2020 as we expect increased growth in mortgage (warehouse and MCA) to outrun the NIM compression.”
According to TipRanks.com, Olney is a 2-star analyst with an average return of 0.7% and a 46.9% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
Texas Capital Bancshares has an analyst consensus of Moderate Buy, with a price target consensus of $66, implying a 12.8% upside from current levels. In a report released today, Compass Point also downgraded the stock to Hold.
See today’s analyst top recommended stocks >>
Umpqua Holdings (UMPQ)
In a report released yesterday, Tyler Stafford from Stephens maintained a Hold rating on Umpqua Holdings, with a price target of $21. The company’s shares closed yesterday at $17.87.
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 5.8% and a 60.3% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
Currently, the analyst consensus on Umpqua Holdings is a Hold with an average price target of $19.50.
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