PNC - Texas Capital Bancshares Making Smart Moves But The Street Anticipates The Improvements

• Texas Capital posted a pretty ugly set of earnings for Q2, with declines in loan sales and mortgage services and higher expenses walloping pre-provision profits.
• There's already evidence of progress with improving cost of funds and credit quality, and I like the company's strategic shift toward prioritizing in-market Texas middle-market commercial lending.
• The Texas middle-market lending market is quite attractive and I'm bullish on TCBI's opportunity to remake itself into a more stable, more consistently profitable bank, but the Street is too.

For further details see: