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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,500,000 shares, an increase of 22.0% from the October 31st total of 1,230,000 shares. Based on an average daily trading volume, of 458,500 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

TCBI has been the topic of a number of recent analyst reports. Barclays raised their target price on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. DA Davidson boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Hovde Group upped their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Wedbush reissued a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Finally, Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Stock Down 0.9 %

Texas Capital Bancshares stock traded down $0.77 during midday trading on Friday, reaching $88.45. The stock had a trading volume of 177,924 shares, compared to its average volume of 430,633. Texas Capital Bancshares has a 1-year low of $53.69 and a 1-year high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day simple moving average is $79.30 and its 200-day simple moving average is $68.54. The stock has a market capitalization of $4.09 billion, a P/E ratio of 491.39, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The business had revenue of $304.91 million for the quarter, compared to analyst estimates of $279.64 million. As a group, analysts expect that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 20,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares in the second quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of Texas Capital Bancshares by 89.9% during the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock worth $26,000 after purchasing an additional 169 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $31,000. CWM LLC boosted its holdings in shares of Texas Capital Bancshares by 40.8% in the 2nd quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after buying an additional 275 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares in the 3rd quarter valued at approximately $71,000. 96.88% of the stock is owned by institutional investors.

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.