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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,490,000 shares, a decline of 15.3% from the December 31st total of 1,760,000 shares. Based on an average daily volume of 445,700 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.3% of the company’s stock are sold short.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 2,006 shares of Texas Capital Bancshares stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $20.99 per share, with a total value of $42,105.94. Following the transaction, the director now directly owns 182,899 shares in the company, valued at $3,839,050.01. The trade was a 1.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders acquired 8,402 shares of company stock worth $213,837. 1.53% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings 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 in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Texas Capital Bancshares during the 3rd quarter worth $31,000. Venturi Wealth Management LLC acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at about $37,000. R Squared Ltd acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at about $41,000. Finally, Meeder Asset Management Inc. acquired a new stake in Texas Capital Bancshares in the third quarter valued at about $71,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Stock Performance

TCBI stock traded down $1.72 during trading hours on Monday, hitting $77.23. 440,985 shares of the stock were exchanged, compared to its average volume of 491,560. The firm has a market capitalization of $3.57 billion, a P/E ratio of 60.34, a P/E/G ratio of 0.73 and a beta of 1.16. Texas Capital Bancshares has a 12 month low of $54.68 and a 12 month high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $81.05 and a two-hundred day simple moving average of $74.93.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, analysts forecast that Texas Capital Bancshares will post 5.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

TCBI has been the subject of a number of recent research reports. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Hovde Group increased their price target on 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. Finally, Truist Financial increased their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.13.

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.