Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Down 18.2% in February

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) 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. Based on an average daily volume of 449,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.9% of the company's shares are sold short.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded up $0.27 during mid-day trading on Friday, reaching $75.88. The stock had a trading volume of 757,708 shares, compared to its average volume of 411,394. The business's fifty day moving average is $78.25 and its 200-day moving average is $78.36. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 0.75 and a beta of 1.13. Texas Capital Bancshares has a 1-year low of $54.68 and a 1-year high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

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Insider Activity

In other news, Director Robert W. Stallings purchased 5,670 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $27.60 per share, for a total transaction of $156,492.00. Following the completion of the acquisition, the director now owns 180,893 shares of the company's stock, valued at approximately $4,992,646.80. This trade represents a 3.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders purchased 29,402 shares of company stock valued at $653,787. 1.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Texas Capital Bancshares

Several large investors have recently made changes to their positions in TCBI. Picton Mahoney Asset Management purchased a new position in Texas Capital Bancshares in the fourth quarter valued at $30,000. Icon Wealth Advisors LLC purchased a new position in shares of Texas Capital Bancshares in the 3rd quarter valued at about $31,000. Assetmark Inc. acquired a new position in Texas Capital Bancshares in the 4th quarter worth about $32,000. Venturi Wealth Management LLC purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $37,000. Finally, R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $41,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TCBI shares. Hovde Group cut their target price on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a "market perform" rating on the stock in a research report on Friday, March 7th. StockNews.com raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. DA Davidson reduced their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Barclays raised their price target on shares of Texas Capital Bancshares from $60.00 to $71.00 and gave the company an "underweight" rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $95.00 price objective (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Three investment 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $79.47.

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.