Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Update

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,760,000 shares, an increase of 47.9% from the December 15th total of 1,190,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily volume of 441,200 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several recent analyst reports. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Hovde Group lifted their price target on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Truist Financial increased their price objective on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Barclays upped their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.75.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the transaction, the director now owns 84,587 shares in the company, valued at $1,800,011.36. The trade was a 30.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Texas Capital Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after purchasing an additional 13,022 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Texas Capital Bancshares by 15.4% in the third quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 150,301 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 87.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock worth $65,219,000 after purchasing an additional 506,094 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Texas Capital Bancshares by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,839 shares of the bank’s stock worth $40,792,000 after purchasing an additional 10,171 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Texas Capital Bancshares by 43.8% during 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. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

Shares of TCBI traded up $0.05 during mid-day trading on Thursday, hitting $78.96. The company’s stock had a trading volume of 491,762 shares, compared to its average volume of 460,936. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 1-year low of $54.68 and a 1-year high of $91.80. The firm has a market capitalization of $3.65 billion, a P/E ratio of 438.67, a P/E/G ratio of 0.66 and a beta of 1.17. The firm has a 50-day simple moving average of $82.80 and a 200 day simple moving average of $73.51.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.65. The company had revenue of $304.91 million during the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. Analysts predict that Texas Capital Bancshares will post 4.08 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.