Texas Capital Bancshares Inc (NASDAQ:TCBI) Sees Large Increase in Short Interest

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Texas Capital Bancshares Inc (NASDAQ:TCBI) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,940,000 shares, a growth of 34.2% from the September 30th total of 2,190,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 574,400 shares, the days-to-cover ratio is presently 5.1 days.

TCBI has been the topic of a number of recent research reports. TheStreet cut shares of Texas Capital Bancshares from a “b-” rating to a “c+” rating in a research note on Friday, August 30th. UBS Group cut shares of Texas Capital Bancshares from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $62.00 to $52.00 in a research note on Monday, August 5th. Zacks Investment Research raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a research note on Monday, October 21st. ValuEngine cut shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Raymond James cut shares of Texas Capital Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.89.

TCBI opened at $58.17 on Thursday. The firm’s fifty day moving average is $55.32 and its two-hundred day moving average is $58.05. 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 firm has a market cap of $3.00 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.86. Texas Capital Bancshares has a twelve month low of $47.86 and a twelve month high of $66.61.

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, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.21. The company had revenue of $272.47 million for the quarter, compared to analyst estimates of $262.12 million. Texas Capital Bancshares had a net margin of 22.29% and a return on equity of 12.95%. During the same period last year, the business posted $1.65 earnings per share. Equities analysts forecast that Texas Capital Bancshares will post 6.25 EPS for the current fiscal year.

In other news, Director Steve Rosenberg sold 1,997 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $55.48, for a total transaction 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 Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TCBI. BBVA USA Bancshares Inc. grew its holdings in Texas Capital Bancshares by 381.5% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 20,276 shares of the bank’s stock worth $1,108,000 after acquiring an additional 16,065 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Texas Capital Bancshares by 50.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 437,188 shares of the bank’s stock worth $23,892,000 after acquiring an additional 146,514 shares during the last quarter. SG Americas Securities LLC grew its holdings in Texas Capital Bancshares by 623.4% during the 3rd quarter. SG Americas Securities LLC now owns 84,228 shares of the bank’s stock worth $4,603,000 after acquiring an additional 72,584 shares during the last quarter. First Trust Advisors LP grew its holdings in Texas Capital Bancshares by 9.6% during the 3rd quarter. First Trust Advisors LP now owns 259,214 shares of the bank’s stock worth $14,166,000 after acquiring an additional 22,781 shares during the last quarter. Finally, Mackay Shields LLC bought a new stake in Texas Capital Bancshares during the 3rd quarter worth approximately $528,000. Institutional investors own 94.60% of the company’s stock.

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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