Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Sees Significant Growth in Short Interest

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

Texas Capital Bancshares Stock Up 0.1 %

Shares of TCBI traded up $0.05 during mid-day trading on Thursday, reaching $78.96. 491,762 shares of the stock traded hands, compared to its average volume of 460,936. The stock has a fifty day simple moving average of $82.80 and a 200 day simple moving average of $73.51. Texas Capital Bancshares has a 12-month low of $54.68 and a 12-month high of $91.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 438.67, a P/E/G ratio of 0.66 and a beta of 1.17.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.65. The firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. Sell-side analysts expect that Texas Capital Bancshares will post 4.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TCBI. Royal Bank of Canada increased their price objective on shares of Texas Capital Bancshares from $73.00 to $83.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on Texas Capital Bancshares from $86.00 to $81.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Truist Financial lifted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler lowered Texas Capital Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $82.00 in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.75.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average price 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 in the company, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TCBI. Moody National Bank Trust Division raised its holdings in Texas Capital Bancshares by 9.5% in the fourth quarter. Moody National Bank Trust Division now owns 17,371 shares of the bank’s stock valued at $1,358,000 after acquiring an additional 1,508 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in Texas Capital Bancshares during the third quarter valued at approximately $212,000. Sanctuary Advisors LLC bought a new position in Texas Capital Bancshares during the 3rd quarter worth approximately $310,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Texas Capital Bancshares by 19.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock worth $4,045,000 after purchasing an additional 9,225 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Texas Capital Bancshares by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,309 shares of the bank’s stock valued at $309,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

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.