Now the real work begins.
Texas Capital Bancshares (TCBI) shares have done well over the past three months as investors have shifted toward a "risk on" position with the banking sector, and I also believe the hiring of former JPMorgan (JPM) executive Rob Holmes as the new CEO has brought a renewed optimism around the potential for the company to chart a new, more profitable course over the next decade.
When I last reviewed Texas Capital , I thought the stock offered upside on the potential of what the bank could/can become until better leadership, but that upside was tempered by above-average near-term volatility and operating risks. That's still basically my position, and while I do still see worthwhile long-term upside on its transformation potential, I'd like a better entry price to take on the risk that the path to that potential could be longer or rockier than the bulls think.
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