Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Declines By 21.3%

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

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now owns 84,587 shares in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Texas Capital Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after purchasing an additional 13,022 shares during the period. Wellington Management Group LLP increased its position in 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 acquiring an additional 150,301 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after purchasing an additional 506,094 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Texas Capital Bancshares by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock valued at $40,792,000 after buying an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. raised its position 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 period. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several research analyst reports. Hovde Group raised their price objective 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. Wedbush restated a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, September 9th. Bank of America upgraded shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $77.00 in a research report on Monday, September 9th. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Tuesday, September 17th. Four equities research 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’s stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus target price of $74.69.

Texas Capital Bancshares Stock Down 1.3 %

Texas Capital Bancshares stock traded down $1.11 on Friday, hitting $84.42. 311,711 shares of the stock traded hands, compared to its average volume of 424,461. The business’s fifty day simple moving average is $82.50 and its 200 day simple moving average is $70.34. The firm has a market cap of $3.90 billion, a P/E ratio of 469.00, a price-to-earnings-growth ratio of 0.82 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 1 year low of $54.68 and a 1 year high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share 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 business had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. As a group, sell-side analysts forecast that Texas Capital Bancshares will post 4.15 earnings per share 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.