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

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

Texas Capital Bancshares Stock Performance

NASDAQ TCBI traded up $0.48 during trading on Tuesday, hitting $77.57. 423,225 shares of the company’s stock traded hands, compared to its average volume of 420,679. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $78.67. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 0.94 and a beta of 1.13. 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 business has a 50 day moving average of $67.54 and a 200-day moving average of $62.98.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. The business had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter in the previous year, the business earned $1.33 earnings per share. As a group, equities research analysts anticipate that Texas Capital Bancshares will post 3.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TCBI shares. Stephens lifted their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 19th. DA Davidson upped their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Wedbush increased their target price on shares of Texas Capital Bancshares from $70.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 17th. Finally, Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $77.00 in a report on Monday, September 9th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $69.13.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Stallings acquired 15,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings bought 4,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $20.62 per share, with a total value of $82,480.00. Following the completion of the acquisition, the director now owns 12,794 shares of the company’s stock, valued at $263,812.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock valued at $876,400 over the last quarter. 0.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Several large investors have recently bought and sold shares of TCBI. Vanguard Group Inc. lifted its stake in Texas Capital Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,888,236 shares of the bank’s stock worth $315,927,000 after purchasing an additional 68,211 shares in the last quarter. Wellington Management Group LLP boosted its position in Texas Capital Bancshares by 97.9% in 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 during the period. AQR Capital Management LLC boosted its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the period. American Century Companies Inc. lifted its position in shares of Texas Capital Bancshares by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after purchasing an additional 171,263 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Texas Capital Bancshares by 42.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 544,408 shares of the bank’s stock worth $35,185,000 after purchasing an additional 161,643 shares during the period. 96.88% of the stock is currently 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.