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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of 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. Based on an average daily volume of 438,300 shares, the short-interest ratio is currently 2.8 days. Approximately 2.7% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently issued reports on TCBI. Raymond James upgraded Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Tuesday, September 17th. DA Davidson raised their target price on shares of Texas Capital Bancshares from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. Barclays increased their price objective on shares of Texas Capital Bancshares from $49.00 to $60.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Finally, Hovde Group lifted their target price on Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.00.

Texas Capital Bancshares Trading Down 2.1 %

TCBI stock traded down $1.85 during mid-day trading on Friday, reaching $87.04. The company had a trading volume of 488,618 shares, compared to its average volume of 430,471. The company has a market capitalization of $4.02 billion, a PE ratio of 483.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The firm has a 50 day moving average of $75.87 and a 200 day moving average of $66.65. Texas Capital Bancshares has a 12 month low of $53.16 and a 12 month high of $91.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01.

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, topping the consensus estimate of $0.97 by $0.65. The company 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, equities analysts predict that Texas Capital Bancshares will post 4.15 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 20,000 shares of the company’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 acquisition, the director now owns 84,587 shares of the company’s stock, valued at approximately $1,800,011.36. This represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Texas Capital Bancshares by 40.4% in the 1st quarter. SG Americas Securities LLC now owns 3,932 shares of the bank’s stock worth $242,000 after purchasing an additional 1,131 shares during the period. ProShare Advisors LLC increased its holdings in shares of Texas Capital Bancshares by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 10,804 shares of the bank’s stock valued at $665,000 after acquiring an additional 344 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Texas Capital Bancshares by 11.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,252 shares of the bank’s stock worth $939,000 after acquiring an additional 1,570 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Texas Capital Bancshares during the 1st quarter worth $606,000. Finally, Edgestream Partners L.P. lifted its stake in shares of Texas Capital Bancshares by 238.0% during the 1st quarter. Edgestream Partners L.P. now owns 88,165 shares of the bank’s stock worth $5,427,000 after purchasing an additional 62,079 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

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.