Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Down 24.8% in July

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,180,000 shares, a drop of 24.8% from the June 30th total of 1,570,000 shares. Based on an average daily volume of 385,200 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $63.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Hovde Group cut their price objective on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research report on Friday, April 19th. Stephens raised their price objective on Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Wedbush raised their price objective on Texas Capital Bancshares from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Texas Capital Bancshares has a consensus rating of “Hold” and an average target price of $65.19.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded up $1.10 during trading hours on Friday, reaching $67.30. 340,242 shares of the company traded hands, compared to its average volume of 470,356. The stock has a market capitalization of $3.11 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.75 and a beta of 1.15. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. Texas Capital Bancshares has a 12-month low of $52.89 and a 12-month high of $72.07. The business has a fifty day moving average price of $61.05 and a 200-day moving average price of $60.33.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same period last year, the firm earned $1.33 earnings per share. Equities analysts anticipate that Texas Capital Bancshares will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average cost of $19.36 per share, with a total value of $58,080.00. Following the acquisition, the director now owns 169,706 shares in the company, valued at $3,285,508.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of $19.52 per share, with a total value of $117,120.00. Following the completion of the acquisition, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Stallings purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the completion of the acquisition, the director now owns 169,706 shares of the company’s stock, valued at $3,285,508.16. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 15,504 shares of company stock valued at $303,178. 0.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Large investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after purchasing an additional 546 shares during the last quarter. Mather Group LLC. purchased a new stake in Texas Capital Bancshares in the first quarter valued at $50,000. Fidelis Capital Partners LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at $54,000. Headlands Technologies LLC boosted its holdings in Texas Capital Bancshares by 41.9% in the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in Texas Capital Bancshares in the fourth quarter valued at $139,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.