Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Increases By 19.6%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,770,000 shares, an increase of 19.6% from the August 15th total of 1,480,000 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily volume of 409,800 shares, the short-interest ratio is presently 4.3 days.

Texas Capital Bancshares Trading Down 0.4 %

TCBI traded down $0.26 on Monday, hitting $69.87. 6,780 shares of the company were exchanged, compared to its average volume of 417,590. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $72.07. The firm has a fifty day simple moving average of $64.55 and a two-hundred day simple moving average of $61.14. The stock has a market capitalization of $3.26 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, July 18th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. During the same period in the previous year, the firm earned $1.33 earnings per share. Sell-side analysts expect that Texas Capital Bancshares will post 3.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the transaction, the director now directly owns 55,294 shares in the company, valued at $1,102,009.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $20.46 per share, for a total transaction of $204,600.00. Following the purchase, the director now owns 31,294 shares of the company’s stock, valued at approximately $640,275.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Stallings acquired 14,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $19.93 per share, with a total value of $279,020.00. Following the completion of the purchase, the director now directly owns 55,294 shares in the company, valued at approximately $1,102,009.42. The disclosure for this purchase can be found here. Insiders have bought a total of 43,500 shares of company stock worth $876,400 in the last ninety days. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at about $26,000. CWM LLC raised its holdings in shares of Texas Capital Bancshares by 426.6% during the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. bought a new position in shares of Texas Capital Bancshares during the first quarter valued at approximately $50,000. Fidelis Capital Partners LLC purchased a new stake in Texas Capital Bancshares in the first quarter worth $54,000. Finally, TFO Wealth Partners LLC boosted its holdings in Texas Capital Bancshares by 123,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,477 shares of the bank’s stock valued at $160,000 after acquiring an additional 2,475 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TCBI has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. increased their price target on shares of Texas Capital Bancshares from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Stephens boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Citigroup reaffirmed a “sell” rating and set a $60.00 target price on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Finally, Truist Financial increased their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.77.

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.