Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Update

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a decline of 20.1% from the October 15th total of 1,540,000 shares. Based on an average daily volume of 438,300 shares, the short-interest ratio is currently 2.8 days. Currently, 2.7% of the company’s shares are sold short.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $21.28 per share, for a total transaction of $425,600.00. Following the acquisition, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in shares of Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after purchasing an additional 169 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Texas Capital Bancshares during the second quarter worth $26,000. Icon Wealth Advisors LLC acquired a new stake in Texas Capital Bancshares in the 3rd quarter valued at about $31,000. CWM LLC raised its holdings in Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after acquiring an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at $71,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TCBI. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Tuesday, September 17th. Royal Bank of Canada upped their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Citigroup reissued a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Trading Down 0.2 %

Texas Capital Bancshares stock opened at $88.89 on Friday. The stock has a 50-day moving average price of $75.48 and a 200 day moving average price of $66.45. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 493.83, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 52 week low of $53.16 and a 52 week high of $91.29.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. The company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Sell-side analysts anticipate that Texas Capital Bancshares will post 4.15 EPS for the current year.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.