Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Sees Significant Growth in Short Interest

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,500,000 shares, an increase of 22.0% from the October 31st total of 1,230,000 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily volume of 458,500 shares, the short-interest ratio is presently 3.3 days.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average cost of $21.28 per share, with a total value of $425,600.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of 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 acquiring an additional 506,094 shares during the last quarter. Millennium Management LLC raised its position in Texas Capital Bancshares by 146.7% in the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock worth $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Texas Capital Bancshares during the 2nd quarter worth $11,489,000. American Century Companies Inc. boosted its position in 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 buying an additional 171,263 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after buying an additional 150,301 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TCBI. Truist Financial upped their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Barclays lifted their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Four investment 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. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Texas Capital Bancshares Trading Down 0.9 %

Texas Capital Bancshares stock traded down $0.77 during midday trading on Friday, reaching $88.45. The stock had a trading volume of 177,924 shares, compared to its average volume of 430,633. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 491.39, a PEG ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day simple moving average is $79.30 and its two-hundred day simple moving average is $68.54. Texas Capital Bancshares has a twelve month low of $53.69 and a twelve month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, topping 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 firm had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Equities analysts anticipate that Texas Capital Bancshares will post 4.15 EPS for the current fiscal 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.