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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a significant drop in short interest in the month of 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. Currently, 2.9% of the company’s stock are sold short. Based on an average daily volume of 449,400 shares, the days-to-cover ratio is presently 2.9 days.

Texas Capital Bancshares Stock Down 0.3 %

Shares of Texas Capital Bancshares stock opened at $75.37 on Wednesday. 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 firm has a market cap of $3.48 billion, a P/E ratio of 58.88, a P/E/G ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The business has a 50-day moving average price of $78.23 and a 200 day moving average price of $78.24.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 2,006 shares of the business’s stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $20.99 per share, with a total value of $42,105.94. Following the completion of the transaction, the director now directly owns 182,899 shares of the company’s stock, valued at $3,839,050.01. This trade represents a 1.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 29,402 shares of company stock valued at $653,787 over the last three months. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $30,000. Icon Wealth Advisors LLC acquired a new position in Texas Capital Bancshares in the third quarter valued at approximately $31,000. Assetmark Inc. acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $32,000. Venturi Wealth Management LLC acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $37,000. Finally, R Squared Ltd acquired a new position in Texas Capital Bancshares in the fourth quarter valued at approximately $41,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCBI has been the topic of several research reports. Barclays raised their price objective on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. DA Davidson dropped their target price on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. Hovde Group dropped their target price on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, March 7th. Finally, StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Three investment 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. According to data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price of $79.47.

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.