Price Action Alert: Texas Capital Bancshares Inc’s Stock Is Buy After Achieving Record High

Price Action Alert: Texas Capital Bancshares Inc's Stock Is Buy After Achieving Record High

The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) reached all time high today, Nov, 10 and still has $101.33 target or 54.00% above today’s $65.80 share price. This indicates more upside for the $3.28B company. This technical setup was reported by Barchart.com. If the $101.33 PT is reached, the company will be worth $1.77 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 136,607 shares traded hands. Texas Capital Bancshares Inc (NASDAQ:TCBI) has risen 80.51% since April 8, 2016 and is uptrending. It has outperformed by 74.86% the S&P500.

Texas Capital Bancshares Inc (NASDAQ:TCBI) Ratings Coverage

Out of 16 analysts covering Texas Capital Bancshares Inc. (NASDAQ:TCBI), 6 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 38% are positive. Texas Capital Bancshares Inc. has been the topic of 32 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Raymond James upgraded Texas Capital Bancshares Inc (NASDAQ:TCBI) on Monday, May 9 to “Strong Buy” rating. Raymond James upgraded the shares of TCBI in a report on Thursday, November 3 to “Strong Buy” rating. Sterne Agee CRT initiated it with “Neutral” rating and $60 target price in Thursday, August 20 report. The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) has “Outperform” rating given on Thursday, July 21 by Raymond James. The rating was initiated by Compass Point on Friday, July 1 with “Buy”. Piper Jaffray downgraded the stock to “Neutral” rating in Monday, August 17 report. As per Friday, April 1, the company rating was downgraded by Hovde Group. On Friday, October 7 the stock rating was initiated by Wedbush with “Neutral”. The firm has “Neutral” rating given on Monday, December 28 by Piper Jaffray. The company was upgraded on Friday, August 28 by DA Davidson.

According to Zacks Investment Research, “Texas Capital Bancshares’ primary subsidiary is Texas Capital Bank, a commercial bank that delivers highly personalized financial services to Texas-based businesses and private client individuals. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston, Plano, and San Antonio.”

Insitutional Activity: The institutional sentiment increased to 1.31 in 2016 Q2. Its up 0.27, from 1.04 in 2016Q1. The ratio increased, as 14 funds sold all Texas Capital Bancshares Inc shares owned while 60 reduced positions. 31 funds bought stakes while 66 increased positions. They now own 46.34 million shares or 3.84% more from 44.63 million shares in 2016Q1.
Clearbridge Investments Ltd Limited Liability Company holds 0% or 64,481 shares in its portfolio. American Century Cos holds 0.02% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 432,771 shares. Aristotle Capital Boston Lc holds 0.3% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 28,442 shares. Nationwide Fund owns 207,479 shares or 0.04% of their US portfolio. Aperio Group Ltd owns 8,983 shares or 0% of their US portfolio. Millennium Management Lc holds 0.06% or 602,248 shares in its portfolio. Rhumbline Advisers has 79,623 shares for 0.01% of their US portfolio. South Dakota Invest Council holds 0.01% or 14,000 shares in its portfolio. Ubs Oconnor Ltd Llc holds 0% or 31,326 shares in its portfolio. Dimensional Fund Ltd Partnership has 1.37M shares for 0.04% of their US portfolio. Guggenheim Capital Lc last reported 0% of its portfolio in the stock. Lockheed Martin Invest Mgmt holds 90,200 shares or 0.42% of its portfolio. Proshare Advsr Limited holds 0.01% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 14,172 shares. Moreover, Price T Rowe Assocs Incorporated Md has 0.04% invested in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 4.20M shares. Blackrock Advsrs Lc holds 0.01% or 192,571 shares in its portfolio.

Insider Transactions: Since September 1, 2016, the stock had 0 insider purchases, and 2 insider sales for $204,929 net activity. On Wednesday, October 26 the insider ROSENBERG STEVE sold $73,554. On Thursday, September 1 the insider Browning James H sold $131,375.

More recent Texas Capital Bancshares Inc (NASDAQ:TCBI) news were published by: Nasdaq.com which released: “Texas Capital Bancshares Reaches Analyst Target Price” on November 10, 2016. Also Finance.Yahoo.com published the news titled: “Texas Capital Bancshares, Inc. Announces Quarterly Dividend for Preferred Stock” on October 24, 2016. Nasdaq.com‘s news article titled: “Texas Capital Bank Expands Private Wealth Team in Austin” with publication date: November 01, 2016 was also an interesting one.

TCBI Company Profile

Texas Capital Bancshares, Inc., incorporated on November 20, 1996, is a bank holding and a financial holding company. The Firm is the parent of Texas Capital Bank, National Association (the Bank). The Firm offers a range of loans, deposit accounts and other financial services and products. The Firm offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit. The Firm provides a range of banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest bearing and non-interest bearing checking accounts with optional features, such as Visa debit/ automatic teller machine (ATM) cards and overdraft protection; traditional money market and savings accounts; loans, both secured and unsecured, and Internet banking. The Bank offers over 10 banking centers, courier services and online banking. BankDirect, the Internet division of its bank, serves its clients round the clock through Internet banking. The Company’s wealth management and trust services include investment management, personal trust and estate services, custodial services, retirement accounts and related services. It also offers retirement products, such as individual retirement accounts and administrative services for retirement vehicles, such as pension and profit sharing plans.

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