Texas Capital Bancshares Inc (NASDAQ:TCBI) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totalling 2,220,000 shares, a decline of 18.7% from the June 15th total of 2,730,000 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 970,800 shares, the days-to-cover ratio is currently 2.3 days.
TCBI has been the topic of a number of research reports. BidaskClub raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $28.00 price target on shares of Texas Capital Bancshares in a research note on Monday, April 13th. Keefe, Bruyette & Woods lowered shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating and cut their price target for the company from $46.50 to $38.00 in a research note on Tuesday, May 26th. Jefferies Financial Group started coverage on shares of Texas Capital Bancshares in a report on Tuesday, June 2nd. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Bank of America lowered their price objective on shares of Texas Capital Bancshares from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.88.
Several large investors have recently added to or reduced their stakes in TCBI. Advisor Group Holdings Inc. acquired a new position in shares of Texas Capital Bancshares in the first quarter valued at $33,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Texas Capital Bancshares by 146.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,182 shares of the bank’s stock valued at $66,000 after purchasing an additional 703 shares during the last quarter. Aigen Investment Management LP increased its holdings in shares of Texas Capital Bancshares by 133.4% in the first quarter. Aigen Investment Management LP now owns 3,093 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,768 shares during the last quarter. CWM Advisors LLC acquired a new position in shares of Texas Capital Bancshares in the first quarter valued at $70,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Texas Capital Bancshares in the fourth quarter valued at $79,000. Hedge funds and other institutional investors own 92.18% of the company’s stock.
TCBI traded down $1.59 during trading on Tuesday, reaching $27.87. 15,110 shares of the stock were exchanged, compared to its average volume of 1,090,121. The stock has a market cap of $1.45 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 3.22 and a beta of 2.20. Texas Capital Bancshares has a twelve month low of $19.10 and a twelve month high of $64.88. The stock’s 50 day moving average price is $30.74 and its two-hundred day moving average price is $38.99. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.27 and a current ratio of 1.29.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, April 22nd. The bank reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($1.41). The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $250.13 million. Texas Capital Bancshares had a return on equity of 9.11% and a net margin of 15.73%. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Equities research analysts predict that Texas Capital Bancshares will post 1.11 earnings per share for the current fiscal year.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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