Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Sees Large Drop in Short Interest

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,230,000 shares, a drop of 20.1% from the October 15th total of 1,540,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 438,300 shares, the short-interest ratio is currently 2.8 days.

Insider Activity at Texas Capital Bancshares

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

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in TCBI. AQR Capital Management LLC increased its stake in 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. Millennium Management LLC boosted its position in Texas Capital Bancshares by 146.7% during the second quarter. Millennium Management LLC now owns 372,370 shares of the bank’s stock valued at $22,767,000 after purchasing an additional 221,454 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in shares of Texas Capital Bancshares in the second quarter valued at $11,489,000. American Century Companies Inc. increased its position in Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock worth $34,392,000 after buying an additional 171,263 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Texas Capital Bancshares by 1,905.7% during the 2nd quarter. SG Americas Securities LLC now owns 78,864 shares of the bank’s stock worth $4,822,000 after acquiring an additional 74,932 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TCBI shares. Wedbush reaffirmed a “sector perform” rating on shares of Texas Capital Bancshares in a report on Friday, October 18th. Citigroup restated a “sell” rating and set a $60.00 price target on shares of Texas Capital Bancshares in a report on Monday, July 22nd. StockNews.com raised 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 increased their target price on Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, Stephens raised their price target on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.00.

Texas Capital Bancshares Trading Down 0.2 %

NASDAQ:TCBI opened at $88.89 on Friday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 493.83, a P/E/G ratio of 0.85 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares has a 12 month low of $53.16 and a 12 month high of $91.29. The company’s 50 day moving average is $75.48 and its 200-day moving average is $66.45.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Thursday, October 17th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million during 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%. Equities analysts anticipate that Texas Capital Bancshares will post 4.15 EPS for the current year.

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.