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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of 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. Based on an average daily trading volume, of 449,400 shares, the short-interest ratio is presently 2.9 days. Approximately 2.9% of the company’s shares are short sold.

Texas Capital Bancshares Stock Down 0.5 %

NASDAQ TCBI traded down $0.35 on Tuesday, hitting $75.27. 71,678 shares of the stock traded hands, compared to its average volume of 409,496. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $78.25 and a 200 day moving average of $78.19. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80. The company has a market capitalization of $3.47 billion, a P/E ratio of 58.70, 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 results on Thursday, January 23rd. The bank reported $1.43 earnings per share (EPS) 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%. As a group, analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the acquisition, the director now owns 49,500 shares in the company, valued at approximately $1,011,285. This trade represents a 16.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 29,402 shares of company stock worth $653,787. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Algert Global LLC lifted its holdings in Texas Capital Bancshares by 367.3% in the third quarter. Algert Global LLC now owns 22,316 shares of the bank’s stock worth $1,595,000 after acquiring an additional 17,540 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock worth $9,481,000 after purchasing an additional 68,632 shares during the last quarter. LMR Partners LLP acquired a new position in Texas Capital Bancshares during the 3rd quarter valued at approximately $740,000. US Bancorp DE grew its stake in Texas Capital Bancshares by 1,575.0% during the 4th quarter. US Bancorp DE now owns 10,519 shares of the bank’s stock worth $823,000 after buying an additional 9,891 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Texas Capital Bancshares by 37.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank’s stock worth $7,538,000 after buying an additional 26,294 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TCBI shares. Barclays increased their target price on Texas Capital Bancshares from $60.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Stephens lowered their price objective on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Hovde Group reduced their target price on shares of 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. JPMorgan Chase & Co. lowered their price target on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $95.00 price objective (down previously from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Three 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.47.

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.