Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Decreases By 18.2%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,300,000 shares, a drop of 18.2% from the February 13th total of 1,590,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 449,400 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TCBI shares. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price objective (down from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. DA Davidson lowered their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, Barclays increased their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Three equities research 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.47.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 2,006 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average cost of $20.99 per share, with a total value of $42,105.94. Following the purchase, the director now directly owns 182,899 shares of the company’s stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought 29,402 shares of company stock valued at $653,787 in the last ninety days. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $30,000. Icon Wealth Advisors LLC acquired a new position in Texas Capital Bancshares in the third quarter valued at $31,000. Assetmark Inc. acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $32,000. Venturi Wealth Management LLC acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $37,000. Finally, R Squared Ltd acquired a new position in Texas Capital Bancshares in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI stock opened at $75.37 on Wednesday. Texas Capital Bancshares has a 52-week low of $54.68 and a 52-week high of $91.80. The stock’s fifty day simple moving average is $78.23 and its 200-day simple moving average is $78.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 58.88, a price-to-earnings-growth ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.36. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities research analysts expect that Texas Capital Bancshares will post 5.84 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.