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

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,300,000 shares, a decline of 18.2% from the February 13th total of 1,590,000 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 449,400 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TCBI shares. StockNews.com upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. DA Davidson dropped their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Stephens decreased 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 research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $95.00 target price (down previously from $100.00) on shares of Texas Capital Bancshares in a research 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 company’s stock. According to data from MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $79.47.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 2,006 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the completion of the purchase, the director now directly owns 182,899 shares in the company, valued at $3,839,050.01. The trade was a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 29,402 shares of company stock valued at $653,787 over the last 90 days. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

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

Texas Capital Bancshares Stock Performance

Shares of TCBI stock opened at $76.22 on Thursday. Texas Capital Bancshares has a fifty-two week low of $54.68 and a fifty-two week high of $91.80. The stock’s 50-day moving average is $78.22 and its two-hundred day moving average is $78.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $3.52 billion, a P/E ratio of 59.55, a PEG ratio of 0.75 and a beta of 1.13.

Texas Capital Bancshares (NASDAQ:TCBI) last issued 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 net margin of 3.99% and a return on equity of 9.14%. Analysts predict that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

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.