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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,410,000 shares, an increase of 19.5% from the July 15th total of 1,180,000 shares. Based on an average trading volume of 375,400 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.1% of the shares of the company are sold short.

Texas Capital Bancshares Trading Up 1.3 %

TCBI traded up $0.78 during trading on Friday, reaching $61.59. 218,119 shares of the company’s stock were exchanged, compared to its average volume of 408,927. The firm has a fifty day moving average price of $61.59 and a two-hundred day moving average price of $60.15. The stock has a market capitalization of $2.85 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.67 and a beta of 1.15. Texas Capital Bancshares has a one year low of $52.89 and a one year high of $72.07. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The business had revenue of $472.49 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.33 EPS. As a group, equities research analysts forecast that Texas Capital Bancshares will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 6,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 163,706 shares in the company, valued at $3,195,541.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Stallings acquired 6,000 shares of the stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $19.52 per share, for a total transaction of $117,120.00. Following the purchase, the director now directly owns 163,706 shares in the company, valued at $3,195,541.12. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 52,500 shares of company stock valued at $1,051,600. 0.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Texas Capital Bancshares during the 2nd quarter valued at approximately $26,000. CWM LLC grew its holdings in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock worth $41,000 after purchasing an additional 546 shares during the period. Mather Group LLC. bought a new stake in Texas Capital Bancshares in the first quarter valued at $50,000. Fidelis Capital Partners LLC acquired a new position in shares of Texas Capital Bancshares during the first quarter valued at about $54,000. Finally, Headlands Technologies LLC boosted its position in shares of Texas Capital Bancshares by 41.9% during the 4th quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock worth $104,000 after purchasing an additional 476 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on TCBI. Truist Financial increased their price target on shares of Texas Capital Bancshares from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Citigroup reiterated a “sell” rating and issued a $60.00 price target on shares of Texas Capital Bancshares in a research note on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Hovde Group lowered their target price on Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.19.

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.