Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Short Interest Up 37.6% in August

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) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 1,500,000 shares, a growth of 37.6% from the August 15th total of 1,090,000 shares. Based on an average daily volume of 474,400 shares, the short-interest ratio is presently 3.2 days. Approximately 3.4% of the shares of the company are sold short. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 474,400 shares, the short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup lifted their target price on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a research report on Friday, July 18th. Hovde Group boosted their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods boosted their price target on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus price target of $84.00.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $85.26 on Tuesday. Texas Capital Bancshares has a twelve month low of $59.37 and a twelve month high of $94.61. The stock's 50 day moving average is $85.47 and its two-hundred day moving average is $77.29. The firm has a market capitalization of $3.90 billion, a PE ratio of 33.83, a P/E/G ratio of 0.72 and a beta of 0.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.28 by $0.35. The business had revenue of $307.46 million for the quarter, compared to analyst estimates 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 earned $0.80 EPS. Research analysts anticipate that Texas Capital Bancshares will post 5.84 earnings per share for the current year.

Institutional Investors Weigh In On Texas Capital Bancshares

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Texas Capital Bancshares by 168.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,399 shares of the bank's stock worth $667,000 after acquiring an additional 5,271 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Texas Capital Bancshares during the 2nd quarter worth approximately $298,000. Captrust Financial Advisors boosted its stake in shares of Texas Capital Bancshares by 3.6% during the 2nd quarter. Captrust Financial Advisors now owns 13,183 shares of the bank's stock worth $1,047,000 after acquiring an additional 464 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Texas Capital Bancshares in the 2nd quarter valued at approximately $281,000. Finally, Rafferty Asset Management LLC lifted its stake in Texas Capital Bancshares by 7.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 72,300 shares of the bank's stock valued at $5,741,000 after buying an additional 4,834 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

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.

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