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

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TCBI shares. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Finally, Hovde Group lifted their target price 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. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of “Hold” and a consensus target price of $74.69.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price 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 represents a 30.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.99% of the stock is owned by company insiders.

Institutional Trading of Texas Capital Bancshares

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Texas Capital Bancshares by 87.0% during the second 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. Millennium Management LLC grew its stake in 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 acquiring an additional 221,454 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at about $11,489,000. American Century Companies Inc. increased its holdings 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 valued at $34,392,000 after purchasing an additional 171,263 shares during the period. Finally, Wellington Management Group LLP boosted 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 worth $80,265,000 after purchasing an additional 150,301 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Trading Down 1.3 %

Shares of TCBI traded down $1.11 during midday trading on Friday, hitting $84.42. The stock had a trading volume of 311,711 shares, compared to its average volume of 345,436. The business has a 50-day simple moving average of $82.50 and a two-hundred day simple moving average of $70.42. The firm has a market cap of $3.90 billion, a P/E ratio of 469.00, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a fifty-two week low of $54.68 and a fifty-two week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $279.64 million. As a group, equities analysts forecast that Texas Capital Bancshares will post 4.15 EPS for the current year.

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.