Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Sees Large Decrease in Short Interest

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,450,000 shares, a decrease of 22.5% from the September 15th total of 1,870,000 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average trading volume of 425,600 shares, the short-interest ratio is presently 3.4 days.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded up $1.30 on Monday, hitting $77.09. The stock had a trading volume of 536,937 shares, compared to its average volume of 420,666. Texas Capital Bancshares has a 52-week low of $52.89 and a 52-week high of $77.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The firm has a 50-day moving average of $67.54 and a 200-day moving average of $62.98.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same quarter in the prior year, the company earned $1.33 earnings per share. Equities analysts expect that Texas Capital Bancshares will post 3.5 EPS for the current year.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % 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. In other news, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $20.00 per share, with a total value of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 300.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of Texas Capital Bancshares stock in a transaction on Wednesday, July 31st. The stock was purchased at an average cost of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 43,500 shares of company stock worth $876,400 in the last quarter. Insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in TCBI. Goldman Sachs Group Inc. raised its position in shares of Texas Capital Bancshares by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock valued at $35,185,000 after buying an additional 161,643 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Texas Capital Bancshares by 97.9% during the 4th quarter. Wellington Management Group LLP now owns 1,106,536 shares of the bank’s stock valued at $71,515,000 after buying an additional 547,336 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Texas Capital Bancshares by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock valued at $315,927,000 after buying an additional 68,211 shares in the last quarter. CWM LLC raised its position in shares of Texas Capital Bancshares by 426.6% during the 1st quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

TCBI has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Texas Capital Bancshares from $73.00 to $72.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Citigroup reaffirmed a “sell” rating and issued a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a report on Monday, September 9th. Wedbush raised their price objective on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $69.13.

About Texas Capital Bancshares

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.