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

Key Points

• Texas Capital Bancshares experienced a substantial increase in short interest, rising by 37.6% in August, bringing the total to 1,500,000 shares.
• Recent analyst ratings show a consensus rating of "Hold" with a price target of $84.00, while several analysts have set target prices ranging from $79.00 to $100.00.
• In its latest earnings report, Texas Capital Bancshares reported an EPS of $1.63, exceeding estimates by $0.35, and generated $307.46 million in revenue.

Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,500,000 shares, an increase of 37.6% from the August 15th total of 1,090,000 shares. Based on an average daily trading volume, of 474,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 3.4% of the company's shares are short sold. Currently, 3.4% of the company's shares are short sold. Based on an average daily trading volume, of 474,400 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on TCBI. JPMorgan Chase & Co. boosted their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays increased their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Hovde Group increased their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Citigroup raised their price target on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.00.

Texas Capital Bancshares Price Performance

TCBI traded down $0.89 during midday trading on Friday, hitting $86.98. The stock had a trading volume of 821,523 shares, compared to its average volume of 426,594. The company has a market cap of $3.98 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. The business has a fifty day moving average of $85.42 and a 200 day moving average of $77.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. Texas Capital Bancshares has a 1 year low of $59.37 and a 1 year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.35. The firm had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts forecast that Texas Capital Bancshares will post 5.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Texas Capital Bancshares

A number of institutional investors have recently modified their holdings of TCBI. AQR Capital Management LLC boosted its position in shares of Texas Capital Bancshares by 84.8% during the first quarter. AQR Capital Management LLC now owns 1,432,771 shares of the bank's stock valued at $105,395,000 after buying an additional 657,630 shares during the last quarter. Norges Bank purchased a new position in Texas Capital Bancshares during the 2nd quarter valued at approximately $45,364,000. Azora Capital LP boosted its holdings in shares of Texas Capital Bancshares by 141.3% in the 2nd quarter. Azora Capital LP now owns 930,014 shares of the bank's stock worth $73,843,000 after purchasing an additional 544,590 shares during the period. Nuveen LLC purchased a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $25,808,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Texas Capital Bancshares by 2,249.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after purchasing an additional 238,785 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Company Profile

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.