Texas Capital price target raised to $75 from $73 at Stephens

Stephens raised the firm’s price target on Texas Capital to $75 from $73 and keeps an Overweight rating on the shares. The firm expects operating metrics to improve in Q3 due to the seasonal nature of the mortgage finance business, but is lowering its EPS forecast to reflect softer Q2 results and updated guidance, the analyst tells investors. The firm expects improved profitability from maturation of hedges and new business lines in 2025, but notes its ROA forecast is still “well below” the company’s goal of greater than 1.10%.