Texas Capital Bancshares Inc (NASDAQ:TCBI) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,900,000 shares, a decrease of 21.8% from the December 15th total of 2,430,000 shares. Approximately 3.8% of the company’s stock are sold short. Based on an average trading volume of 546,100 shares, the short-interest ratio is currently 3.5 days.
A number of brokerages have recently issued reports on TCBI. Bank of America downgraded Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $66.00 price target on the stock. in a report on Wednesday, December 18th. Keefe, Bruyette & Woods raised Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Wednesday, December 11th. Zacks Investment Research raised Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a report on Monday, October 21st. Sandler O’Neill raised Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, December 11th. Finally, Wedbush lowered their price target on Texas Capital Bancshares from $58.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Texas Capital Bancshares currently has a consensus rating of “Hold” and an average target price of $62.08.
Shares of NASDAQ:TCBI traded down $1.02 during midday trading on Tuesday, reaching $55.85. 1,513,140 shares of the company’s stock traded hands, compared to its average volume of 736,325. Texas Capital Bancshares has a one year low of $50.77 and a one year high of $66.61. The stock has a 50 day moving average of $58.07 and a 200 day moving average of $57.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 1.24 and a beta of 1.88.
Texas Capital Bancshares (NASDAQ:TCBI) last posted its earnings results on Wednesday, October 16th. The bank reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.21. Texas Capital Bancshares had a return on equity of 12.95% and a net margin of 22.29%. The company had revenue of $272.47 million for the quarter, compared to the consensus estimate of $262.12 million. During the same quarter in the prior year, the company earned $1.65 earnings per share. Sell-side analysts predict that Texas Capital Bancshares will post 6.3 EPS for the current fiscal year.
In other news, Director Steve Rosenberg sold 1,997 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $55.48, for a total value of $110,793.56. Following the sale, the director now directly owns 36,115 shares of the company’s stock, valued at $2,003,660.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TCBI. FMR LLC lifted its holdings in Texas Capital Bancshares by 178,572.6% in the first quarter. FMR LLC now owns 150,085 shares of the bank’s stock valued at $8,194,000 after acquiring an additional 150,001 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Texas Capital Bancshares by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 251,877 shares of the bank’s stock valued at $15,458,000 after acquiring an additional 9,454 shares during the period. Northern Trust Corp lifted its holdings in Texas Capital Bancshares by 5.1% in the second quarter. Northern Trust Corp now owns 802,621 shares of the bank’s stock valued at $49,256,000 after acquiring an additional 39,261 shares during the period. HighTower Advisors LLC lifted its holdings in Texas Capital Bancshares by 233.2% in the second quarter. HighTower Advisors LLC now owns 32,040 shares of the bank’s stock valued at $1,967,000 after acquiring an additional 22,425 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Texas Capital Bancshares by 1,637.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,251 shares of the bank’s stock valued at $76,000 after acquiring an additional 1,179 shares during the period. 93.44% of the stock is currently owned by institutional investors.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, National Association that provides various banking products and services for commercial businesses, and professionals and entrepreneurs. It offers business deposit products and services, including commercial checking accounts, lockbox accounts, and cash concentration accounts, as well as other treasury management services, including information services, wire transfer initiation, ACH initiation, account transfer, and service integration; and consumer deposit products, such as checking accounts, savings accounts, money market accounts, and certificates of deposit.
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