Texas Capital price target raised to $70 from $62 at Truist

Truist analyst Brandon King raised the firm’s price target on Texas Capital to $70 from $62 and keeps a Hold rating on the shares as part of a broader research note recapping Q2 results for Community and Regional Banks. The bank’s mortgage business will likely weigh on results through the year, but new customer account growth and expanding relationships should result in further balance sheet growth, supporting the company’s net interest income, the analyst tells investors in a research note. Truist adds however that the stock remains “relatively fairly valued” considering a more protracted path to reaching profitability targets.