Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Drops By 20.1%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a decrease of 20.1% from the October 15th total of 1,540,000 shares. Based on an average daily trading volume, of 438,300 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.7% of the shares of the stock are short sold.

Texas Capital Bancshares Trading Down 2.1 %

TCBI stock traded down $1.85 during trading on Friday, hitting $87.04. The company had a trading volume of 488,618 shares, compared to its average volume of 493,891. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.02 billion, a PE ratio of 483.56, a PEG ratio of 0.83 and a beta of 1.12. The business has a 50-day moving average of $75.87 and a 200-day moving average of $66.72. Texas Capital Bancshares has a one year low of $53.16 and a one year high of $91.29.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (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 firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Research analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TCBI. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a research note on Friday, October 18th. Hovde Group upped their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Citigroup reissued a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Finally, Barclays boosted their price objective on Texas Capital Bancshares from $49.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and a consensus price target of $74.00.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction 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 purchase, the director now directly owns 84,587 shares of the company’s stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.99% of the stock is owned by corporate insiders.

Institutional Trading of Texas Capital Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in Texas Capital Bancshares by 40.4% during the 1st quarter. SG Americas Securities LLC now owns 3,932 shares of the bank’s stock valued at $242,000 after acquiring an additional 1,131 shares in the last quarter. ProShare Advisors LLC increased its position in Texas Capital Bancshares by 3.3% during the first quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after acquiring an additional 344 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Texas Capital Bancshares by 11.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,252 shares of the bank’s stock worth $939,000 after purchasing an additional 1,570 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Texas Capital Bancshares during the first quarter valued at $606,000. Finally, Edgestream Partners L.P. increased its holdings in Texas Capital Bancshares by 238.0% in the 1st quarter. Edgestream Partners L.P. now owns 88,165 shares of the bank’s stock worth $5,427,000 after acquiring an additional 62,079 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.