Short Interest in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Drops By 20.1%

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,230,000 shares, a decrease of 20.1% from the October 15th total of 1,540,000 shares. Currently, 2.7% of the company's stock are short sold. Based on an average daily volume of 438,300 shares, the days-to-cover ratio is currently 2.8 days.

Texas Capital Bancshares Stock Down 2.1 %

Shares of TCBI stock traded down $1.85 during trading on Friday, hitting $87.04. 488,471 shares of the company were exchanged, compared to its average volume of 430,470. The business's 50-day simple moving average is $75.48 and its 200 day simple moving average is $66.45. Texas Capital Bancshares has a twelve month low of $53.16 and a twelve month high of $91.29. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 486.56, a P/E/G ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million during the quarter, compared to analysts' expectations of $279.64 million. Texas Capital Bancshares had a return on equity of 8.06% and a net margin of 1.40%. As a group, analysts forecast that Texas Capital Bancshares will post 4.15 EPS for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now directly owns 84,587 shares of the company's stock, valued at $1,800,011.36. This trade represents a 30.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.99% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCBI. Innealta Capital LLC acquired a new position in shares of Texas Capital Bancshares in the second quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Texas Capital Bancshares by 89.9% in the 3rd quarter. Blue Trust Inc. now owns 357 shares of the bank's stock valued at $26,000 after acquiring an additional 169 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $31,000. CWM LLC grew its stake in shares of Texas Capital Bancshares by 40.8% in the second quarter. CWM LLC now owns 949 shares of the bank's stock valued at $58,000 after buying an additional 275 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Texas Capital Bancshares during the 3rd quarter worth approximately $71,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TCBI. JPMorgan Chase & Co. lifted their price target on shares of Texas Capital Bancshares from $72.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, October 18th. Citigroup reaffirmed a "sell" rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. DA Davidson boosted their target price on Texas Capital Bancshares from $73.00 to $81.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Hovde Group boosted their price objective on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of "Hold" and an average price target of $74.00.

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.