Bank of Montreal Can Cuts Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Bank of Montreal Can cut its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 75.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,498 shares of the bank’s stock after selling 23,402 shares during the quarter. Bank of Montreal Can’s holdings in Texas Capital Bancshares were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Polymer Capital Management US LLC purchased a new stake in shares of Texas Capital Bancshares during the 4th quarter worth $229,000. Federated Hermes Inc. boosted its holdings in Texas Capital Bancshares by 1,470.0% during the fourth quarter. Federated Hermes Inc. now owns 49,849 shares of the bank’s stock worth $3,898,000 after buying an additional 46,674 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Texas Capital Bancshares during the fourth quarter worth about $115,000. Envestnet Asset Management Inc. grew its position in Texas Capital Bancshares by 19.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,631 shares of the bank’s stock worth $831,000 after buying an additional 1,704 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Texas Capital Bancshares in the fourth quarter valued at about $791,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Stock Performance

NASDAQ TCBI opened at $66.03 on Monday. The business’s 50-day moving average price is $73.26 and its 200 day moving average price is $78.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The company has a market capitalization of $3.05 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

Texas Capital Bancshares (NASDAQ:TCBI) last released its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The company had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. On average, research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings bought 2,006 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was acquired at an average price of $20.99 per share, for a total transaction of $42,105.94. Following the acquisition, the director now owns 182,899 shares of the company’s stock, valued at $3,839,050.01. This trade represents a 1.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders purchased 29,402 shares of company stock valued at $653,787 in the last ninety days. Company insiders own 1.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TCBI shares. Stephens lowered their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays dropped their price target on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. DA Davidson decreased their price objective on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $80.36.

Texas Capital Bancshares 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.