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

by · The Markets Daily

Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 1,450,000 shares, a decline of 22.5% from the September 15th total of 1,870,000 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 425,600 shares, the short-interest ratio is currently 3.4 days.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings bought 15,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $400,000. The trade was a 300.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert W. Stallings acquired 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average price of $20.62 per share, with a total value of $82,480.00. Following the completion of the transaction, the director now directly owns 12,794 shares in the company, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Stallings acquired 15,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 300.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 43,500 shares of company stock valued at $876,400. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Texas Capital Bancshares

Several institutional investors have recently added to or reduced their stakes in TCBI. Innealta Capital LLC acquired a new stake in Texas Capital Bancshares in the second quarter valued at $26,000. CWM LLC raised its holdings in Texas Capital Bancshares by 426.6% in the first quarter. CWM LLC now owns 674 shares of the bank’s stock valued at $41,000 after acquiring an additional 546 shares in the last quarter. Mather Group LLC. acquired a new stake in Texas Capital Bancshares in the first quarter valued at $50,000. Fidelis Capital Partners LLC acquired a new stake in Texas Capital Bancshares in the first quarter valued at $54,000. Finally, Headlands Technologies LLC raised its holdings in Texas Capital Bancshares by 80.4% in the first quarter. Headlands Technologies LLC now owns 2,910 shares of the bank’s stock valued at $179,000 after acquiring an additional 1,297 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCBI has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on shares of Texas Capital Bancshares from $64.00 to $61.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Raymond James raised shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Tuesday, September 17th. DA Davidson upped their price target on shares of Texas Capital Bancshares from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Hovde Group upped their price target on shares of Texas Capital Bancshares from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, September 23rd. Finally, Truist Financial upped their price target on shares of Texas Capital Bancshares from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of “Hold” and a consensus price target of $69.13.

Get Our Latest Report on TCBI

Texas Capital Bancshares Stock Up 1.7 %

Shares of TCBI stock traded up $1.30 on Monday, hitting $77.09. The stock had a trading volume of 536,937 shares, compared to its average volume of 420,666. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 0.94 and a beta of 1.13. The stock’s 50 day moving average is $67.54 and its 200-day moving average is $62.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.00. Texas Capital Bancshares has a 52-week low of $52.89 and a 52-week high of $77.40.

Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last announced its earnings results on Thursday, July 18th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The firm had revenue of $472.49 million during the quarter, compared to analysts’ expectations of $268.02 million. Texas Capital Bancshares had a net margin of 8.08% and a return on equity of 6.05%. During the same quarter last year, the company posted $1.33 earnings per share. As a group, research analysts expect that Texas Capital Bancshares will post 3.5 earnings per share for the current year.

About Texas Capital Bancshares

(Get Free Report)

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.

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