Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Position Reduced by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 75.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,498 shares of the bank's stock after selling 23,402 shares during the period. Bank of Montreal Can's holdings in Texas Capital Bancshares were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Texas Capital Bancshares in the fourth quarter valued at approximately $42,050,000. Massachusetts Financial Services Co. MA raised its holdings in Texas Capital Bancshares by 22.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after acquiring an additional 138,734 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Texas Capital Bancshares by 75.5% during the 4th quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank's stock worth $24,812,000 after purchasing an additional 136,507 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Texas Capital Bancshares during the fourth quarter worth $8,080,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Texas Capital Bancshares by 104.5% during the fourth quarter. Prudential Financial Inc. now owns 155,135 shares of the bank's stock worth $12,132,000 after purchasing an additional 79,290 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 2,006 shares of Texas Capital Bancshares stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average price of $20.99 per share, with a total value of $42,105.94. Following the completion of the acquisition, the director now owns 182,899 shares of the company's stock, valued at approximately $3,839,050.01. This trade represents a 1.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 28,732 shares of company stock worth $820,610 over the last ninety days. Corporate insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens dropped their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday. Raymond James dropped their price target on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday. Keefe, Bruyette & Woods decreased their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a report on Monday. Hovde Group lowered their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday. Finally, Piper Sandler cut their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $76.64.

Texas Capital Bancshares Stock Down 0.6 %

NASDAQ:TCBI traded down $0.43 during trading hours on Friday, hitting $67.78. The stock had a trading volume of 49,636 shares, compared to its average volume of 444,651. The company has a market cap of $3.13 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. The business has a 50 day simple moving average of $72.04 and a two-hundred day simple moving average of $77.88. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80. 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 (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The firm had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.