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Texas Capital Bancshares Will Be Impacted By Fed’s Rate Move, Says Analyst

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Texas Capital Bancshares Inc (NASDAQ: TCBI) shares were down in early trading on Monday.

The Federal Reserve is likely to cut its benchmark interest rates three times by 25 basis points (bps) each in 2024, beginning in June, and by three more times by 25bps in 2025, according to Truist Securities.

The Texas Capital Bancshares Analyst: Brandon King downgraded the rating for Texas Capital Bancshares from Buy to Hold, while slashing the price target from $72 to $66.

The Texas Capital Bancshares Thesis: Net interest income (NII) is likely to continue exerting pressure on results “from lower …

Full story available on Benzinga.com

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