Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Down 24.8% in July

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,180,000 shares, a drop of 24.8% from the June 30th total of 1,570,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 385,200 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TCBI shares. Citigroup reissued a “sell” rating and issued a $60.00 price objective on shares of Texas Capital Bancshares in a research report on Monday, July 22nd. Hovde Group lowered their target price on shares of Texas Capital Bancshares from $87.50 to $61.50 and set a “market perform” rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. raised their target price on shares of Texas Capital Bancshares from $63.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday. Stephens increased their price objective on shares of Texas Capital Bancshares from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group lowered their price objective on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.19.

Texas Capital Bancshares Stock Performance

TCBI traded up $1.10 during trading hours on Friday, hitting $67.30. 340,242 shares of the stock were exchanged, compared to its average volume of 470,356. The stock has a 50-day simple moving average of $61.05 and a 200-day simple moving average of $60.33. Texas Capital Bancshares has a 12 month low of $52.89 and a 12 month high of $72.07. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 0.99.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06). Texas Capital Bancshares had a return on equity of 6.05% and a net margin of 8.08%. The firm had revenue of $472.49 million for the quarter, compared to the consensus estimate of $268.02 million. During the same quarter last year, the business earned $1.33 earnings per share. Analysts anticipate that Texas Capital Bancshares will post 3.36 earnings per share for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $19.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now owns 156,706 shares in the company, valued at approximately $3,055,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Stallings bought 6,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were acquired at an average price of $19.52 per share, with a total value of $117,120.00. Following the transaction, the director now owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The disclosure for this purchase can be found here. Insiders purchased 15,504 shares of company stock worth $303,178 over the last 90 days. Company insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Texas Capital Bancshares

Large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after buying an additional 546 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Texas Capital Bancshares during the first quarter valued at about $50,000. Fidelis Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares during the first quarter valued at about $54,000. Headlands Technologies LLC raised its stake in shares of Texas Capital Bancshares by 41.9% during the fourth quarter. Headlands Technologies LLC now owns 1,613 shares of the bank’s stock valued at $104,000 after purchasing an additional 476 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new stake in shares of Texas Capital Bancshares during the fourth quarter valued at about $139,000. 96.88% of the stock is currently owned by institutional investors.

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.