Texas Capital Bancshares Inc (TCBI) Short Interest Update
Texas Capital Bancshares Inc (NASDAQ:TCBI) was the recipient of a large decrease in short interest during the month of April. As of April 28th, there was short interest totalling 2,875,223 shares, a decrease of 6.3% from the April 13th total of 3,066,949 shares. Based on an average trading volume of 913,059 shares, the short-interest ratio is currently 3.1 days.
Shares of Texas Capital Bancshares (NASDAQ:TCBI) traded up 0.60% during midday trading on Friday, reaching $75.35. 493,299 shares of the company’s stock traded hands. The firm has a market capitalization of $3.73 billion, a P/E ratio of 22.08 and a beta of 1.41. The stock’s 50 day moving average price is $78.13 and its 200 day moving average price is $78.94. Texas Capital Bancshares has a 52-week low of $41.47 and a 52-week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Wednesday, April 19th. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.88 by $0.08. Texas Capital Bancshares had a net margin of 19.98% and a return on equity of 9.94%. The company had revenue of $180.47 million during the quarter, compared to analyst estimates of $192.60 million. During the same period in the previous year, the company posted $0.49 EPS. On average, equities research analysts anticipate that Texas Capital Bancshares will post $3.85 EPS for the current fiscal year.
In other news, Director Ian J. Turpin sold 2,507 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $73.59, for a total transaction of $184,490.13. Following the transaction, the director now directly owns 9,991 shares in the company, valued at approximately $735,237.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider C Keith Cargill acquired 5,000 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were bought at an average price of $73.57 per share, for a total transaction of $367,850.00. Following the completion of the acquisition, the insider now owns 77,286 shares in the company, valued at $5,685,931.02. The disclosure for this purchase can be found here. 1.08% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Texas Capital Bancshares by 19,441.6% in the first quarter. BlackRock Inc. now owns 5,594,948 shares of the bank’s stock worth $466,900,000 after buying an additional 5,566,317 shares in the last quarter. State Street Corp increased its position in Texas Capital Bancshares by 48.4% in the first quarter. State Street Corp now owns 3,047,810 shares of the bank’s stock worth $254,339,000 after buying an additional 994,585 shares during the last quarter. Norges Bank purchased a new position in Texas Capital Bancshares during the fourth quarter worth about $28,896,000. FMR LLC purchased a new position in Texas Capital Bancshares during the first quarter worth about $21,563,000. Finally, Victory Capital Management Inc. increased its position in Texas Capital Bancshares by 123.2% in the first quarter. Victory Capital Management Inc. now owns 424,310 shares of the bank’s stock worth $35,409,000 after buying an additional 234,208 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors.
TCBI has been the topic of several recent analyst reports. JMP Securities initiated coverage on shares of Texas Capital Bancshares in a report on Thursday, February 2nd. They set an “outperform” rating and a $98.00 price objective on the stock. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $98.00 price objective (up previously from $95.00) on shares of Texas Capital Bancshares in a research note on Thursday, March 16th. Jefferies Group LLC reiterated a “buy” rating and set a $102.00 price objective on shares of Texas Capital Bancshares in a research note on Tuesday, March 21st. Keefe, Bruyette & Woods set a $83.00 price objective on shares of Texas Capital Bancshares and gave the company a “hold” rating in a research note on Monday, April 3rd. Finally, Stephens reiterated a “hold” rating on shares of Texas Capital Bancshares in a research note on Thursday, April 20th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $81.00.
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Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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