Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Drops By 20.1%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a decrease of 20.1% from the October 15th total of 1,540,000 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 438,300 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $21.28 per share, with a total value of $425,600.00. Following the completion of the transaction, the director now directly owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. The trade was a 30.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Hawaiian Bank bought a new position in Texas Capital Bancshares during the 2nd quarter valued at $675,000. AQR Capital Management LLC raised its position in Texas Capital Bancshares by 87.0% during the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the period. TD Asset Management Inc increased its holdings in shares of Texas Capital Bancshares by 26.6% in the 2nd quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after purchasing an additional 7,200 shares during the period. Hodges Capital Management Inc. boosted its stake in shares of Texas Capital Bancshares by 22.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 179,098 shares of the bank’s stock valued at $10,950,000 after buying an additional 32,248 shares during the period. Finally, Sei Investments Co. boosted its position in Texas Capital Bancshares by 8.5% during the second quarter. Sei Investments Co. now owns 152,887 shares of the bank’s stock valued at $9,347,000 after purchasing an additional 12,041 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of Texas Capital Bancshares from an “underperform” rating to a “buy” rating and lifted their target price for the company from $51.00 to $77.00 in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 target price on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Piper Sandler lowered shares of Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $77.00 to $82.00 in a report on Friday, October 18th. Finally, Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Stock Down 2.1 %

Texas Capital Bancshares stock traded down $1.85 during trading on Friday, reaching $87.04. 488,618 shares of the company’s stock were exchanged, compared to its average volume of 493,891. Texas Capital Bancshares has a 52-week low of $53.16 and a 52-week high of $91.29. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 483.56, a PEG ratio of 0.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day moving average is $75.87 and its two-hundred day moving average is $66.72.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. On average, analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current 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.