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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,180,000 shares, a decrease of 21.3% from the November 15th total of 1,500,000 shares. Based on an average daily trading volume, of 436,400 shares, the short-interest ratio is presently 2.7 days. Approximately 2.6% of the company’s shares are sold short.

Texas Capital Bancshares Stock Down 1.3 %

Texas Capital Bancshares stock traded down $1.11 during midday trading on Friday, hitting $84.42. 311,711 shares of the company were exchanged, compared to its average volume of 345,436. The company has a market cap of $3.90 billion, a PE ratio of 469.00, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. Texas Capital Bancshares has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The company’s fifty day moving average price is $82.50 and its 200-day moving average price is $70.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.65. The business had revenue of $304.91 million for 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%. On average, research analysts predict that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, for a total transaction of $425,600.00. Following the completion of the purchase, the director now owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares during the period. Millennium Management LLC grew its position in shares of Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after buying an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in Texas Capital Bancshares during the second quarter worth about $11,489,000. American Century Companies Inc. lifted its holdings in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after acquiring an additional 171,263 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Texas Capital Bancshares by 15.4% during the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCBI has been the subject of a number of research analyst reports. Piper Sandler downgraded shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Royal Bank of Canada upped their price target on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. 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 research note on Tuesday, September 17th. Hovde Group upped their price objective on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.69.

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.