Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Grows By 47.9%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,760,000 shares, a growth of 47.9% from the December 15th total of 1,190,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 441,200 shares, the days-to-cover ratio is currently 4.0 days.

Insider Buying and Selling

In related news, Director Robert W. Stallings bought 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost 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. 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 link. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TCBI. Victory Capital Management Inc. lifted its position in Texas Capital Bancshares by 10.1% during the 2nd quarter. Victory Capital Management Inc. now owns 16,434 shares of the bank’s stock valued at $1,005,000 after purchasing an additional 1,513 shares during the period. American Century Companies Inc. lifted its holdings in Texas Capital Bancshares by 43.8% in the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank’s stock valued at $34,392,000 after buying an additional 171,263 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Texas Capital Bancshares by 34.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,097 shares of the bank’s stock valued at $495,000 after acquiring an additional 2,069 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Texas Capital Bancshares in the second quarter valued at approximately $207,000. Finally, Intech Investment Management LLC acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth $770,000. 96.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TCBI. Hovde Group lifted their target price on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Royal Bank of Canada boosted their price target on Texas Capital Bancshares from $73.00 to $83.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. StockNews.com upgraded Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Piper Sandler downgraded Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the company from $77.00 to $82.00 in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.75.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded up $0.55 during trading on Friday, reaching $79.51. The stock had a trading volume of 24,422 shares, compared to its average volume of 420,767. The stock has a market capitalization of $3.67 billion, a PE ratio of 442.22, a P/E/G ratio of 0.66 and a beta of 1.17. Texas Capital Bancshares has a 52 week low of $54.68 and a 52 week high of $91.80. The business’s 50-day moving average price is $82.72 and its 200 day moving average price is $73.55. 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 posted 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. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. The firm had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $279.64 million. As a group, equities analysts predict that Texas Capital Bancshares will post 4.08 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.