Texas Capital Bancshares Inc (NASDAQ:TCBI) Short Interest Up 64.7% in March

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Texas Capital Bancshares Inc (NASDAQ:TCBI) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totalling 2,141,600 shares, a growth of 64.7% from the February 27th total of 1,300,000 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average daily volume of 802,000 shares, the days-to-cover ratio is currently 2.7 days.

Shares of NASDAQ TCBI opened at $23.81 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.11 and a current ratio of 1.21. Texas Capital Bancshares has a fifty-two week low of $19.10 and a fifty-two week high of $66.61. The firm has a market capitalization of $1.12 billion, a PE ratio of 3.83, a price-to-earnings-growth ratio of 0.57 and a beta of 1.74. The stock’s 50-day simple moving average is $43.44 and its 200-day simple moving average is $53.13.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.42 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.13). The firm had revenue of $266.15 million for the quarter, compared to analyst estimates of $256.26 million. Texas Capital Bancshares had a return on equity of 12.66% and a net margin of 22.15%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. On average, sell-side analysts forecast that Texas Capital Bancshares will post 4.91 earnings per share for the current fiscal year.

TCBI has been the subject of a number of recent research reports. Wedbush reduced their target price on shares of Texas Capital Bancshares from $66.00 to $61.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Sandler O’Neill upgraded shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, December 11th. UBS Group upgraded shares of Texas Capital Bancshares from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $54.00 to $58.00 in a report on Thursday, February 20th. Bank of America downgraded shares of Texas Capital Bancshares from a “buy” rating to a “neutral” rating and set a $66.00 target price for the company. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reduced their target price on shares of Texas Capital Bancshares from $66.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Texas Capital Bancshares presently has a consensus rating of “Hold” and an average price target of $62.33.

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake 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 purchasing an additional 150,001 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Texas Capital Bancshares in the third quarter valued at about $736,000. California State Teachers Retirement System boosted its holdings in Texas Capital Bancshares by 0.3% in the third quarter. California State Teachers Retirement System now owns 79,960 shares of the bank’s stock valued at $4,370,000 after purchasing an additional 215 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Texas Capital Bancshares by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 77,398 shares of the bank’s stock valued at $4,230,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Texas Capital Bancshares by 33.8% in the third quarter. Squarepoint Ops LLC now owns 48,038 shares of the bank’s stock valued at $2,625,000 after purchasing an additional 12,123 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

About Texas Capital Bancshares

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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