Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Update

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) saw a large 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. Approximately 2.9% of the shares of the company are sold short. Based on an average trading volume of 449,400 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analyst Weigh In

TCBI has been the subject of a number of recent analyst reports. StockNews.com raised Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Stephens dropped their target price on shares of Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. DA Davidson reduced their price objective on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Finally, Hovde Group lowered their target price on Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, March 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.47.

Texas Capital Bancshares Trading Down 0.5 %

TCBI traded down $0.35 during trading on Tuesday, hitting $75.27. The company’s stock had a trading volume of 71,678 shares, compared to its average volume of 409,496. Texas Capital Bancshares has a twelve month low of $54.68 and a twelve month high of $91.80. The stock has a market cap of $3.47 billion, a PE ratio of 58.70, a PEG ratio of 0.75 and a beta of 1.13. The firm’s 50 day moving average price is $78.25 and its 200-day moving average price is $78.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.43 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%. On average, analysts expect that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 7,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $20.43 per share, with a total value of $143,010.00. Following the acquisition, the director now owns 49,500 shares of the company’s stock, valued at $1,011,285. This trade represents a 16.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders bought 29,402 shares of company stock worth $653,787. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TCBI. Norges Bank acquired a new position in Texas Capital Bancshares during the fourth quarter worth approximately $42,050,000. Azora Capital LP acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $25,232,000. Wellington Management Group LLP raised its position in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after buying an additional 150,301 shares during the period. Millennium Management LLC boosted its holdings in Texas Capital Bancshares by 60.6% in the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank’s stock valued at $30,144,000 after acquiring an additional 145,393 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Texas Capital Bancshares by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock valued at $58,246,000 after acquiring an additional 138,734 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

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.