Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Drops By 21.3%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,180,000 shares, a decrease of 21.3% from the November 15th total of 1,500,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 436,400 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price target on shares of Texas Capital Bancshares in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price target on Texas Capital Bancshares from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Truist Financial increased their price target on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and increased their price target for the company from $51.00 to $77.00 in a research note on Monday, September 9th. Finally, Piper Sandler cut Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $77.00 to $82.00 in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.69.

Insider Activity

In related news, Director Robert W. Stallings acquired 20,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,800,011.36. This represents 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 insiders.

Institutional Trading of Texas Capital Bancshares

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Texas Capital Bancshares by 89.9% in the third quarter. Blue Trust Inc. now owns 357 shares of the bank’s stock valued at $26,000 after buying an additional 169 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Texas Capital Bancshares during the second quarter valued at about $26,000. Icon Wealth Advisors LLC acquired a new stake in shares of Texas Capital Bancshares during the third quarter valued at about $31,000. CWM LLC boosted its stake in shares of Texas Capital Bancshares by 40.8% during the second quarter. CWM LLC now owns 949 shares of the bank’s stock valued at $58,000 after purchasing an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Texas Capital Bancshares during the third quarter valued at about $71,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

Shares of TCBI traded up $0.83 during trading hours on Monday, hitting $85.25. 539,926 shares of the company were exchanged, compared to its average volume of 424,839. The firm’s fifty day moving average is $82.76 and its 200 day moving average is $70.68. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 473.61, a P/E/G ratio of 0.80 and a beta of 1.14. 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 fifty-two week low of $54.68 and a fifty-two week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The business had revenue of $304.91 million for the quarter, compared to analyst estimates 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 anticipate that Texas Capital Bancshares will post 4.15 earnings per share 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.