Notable Price Action: After Achieving 52-Week High, Is Texas Capital Bancshares Inc’s Near-Term Analysis Positive?

Notable Price Action: After Achieving 52 Week High, Is Texas Capital Bancshares Inc's Near Term Analysis Positive?

The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) hit a new 52-week high and has $118.42 target or 62.00% above today’s $73.10 share price. The 5 months bullish chart indicates low risk for the $3.40 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $118.42 price target is reached, the company will be worth $2.11 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 127,955 shares traded hands. Texas Capital Bancshares Inc (NASDAQ:TCBI) has risen 73.19% since April 19, 2016 and is uptrending. It has outperformed by 69.33% the S&P500.

Texas Capital Bancshares Inc (NASDAQ:TCBI) Ratings Coverage

Out of 16 analysts covering Texas Capital Bancshares Inc. (NASDAQ:TCBI), 4 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 25% are positive. Texas Capital Bancshares Inc. has been the topic of 34 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating given on Friday, April 1 by Hovde Group. Wedbush initiated the shares of TCBI in a report on Friday, October 7 with “Neutral” rating. The firm earned “Market Perform” rating on Wednesday, May 11 by Hovde Group. Sterne Agee CRT initiated the shares of TCBI in a report on Thursday, August 20 with “Neutral” rating. The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) earned “Buy” rating by Compass Point on Friday, July 1. The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) earned “Outperform” rating by Raymond James on Thursday, July 21. The stock has “Neutral” rating given by Bank of America on Wednesday, June 29. The rating was maintained by Barclays Capital on Friday, October 9 with “Equal-Weight”. As per Friday, November 11, the company rating was downgraded by Deutsche Bank. On Friday, August 28 the stock rating was upgraded by DA Davidson to “Buy”.

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 decreased to 1.25 in 2016 Q2. Its down 0.06, from 1.31 in 2016Q1. The ratio dived, 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.
Teachers Advsrs owns 74,491 shares or 0.01% of their US portfolio. Ci Glob Invests Inc, a Ontario – Canada-based fund reported 1.30M shares. Invesco has 176,086 shares for 0% of their US portfolio. Rhumbline Advisers holds 79,623 shares or 0.01% of its portfolio. Shamrock Asset, a Texas-based fund reported 327 shares. Kanaly Tru accumulated 0.03% or 2,858 shares. Livingston Grp Asset Mgmt (Operating As Southport Capital Management) last reported 0.01% of its portfolio in the stock. D E Shaw And Company Inc last reported 61,837 shares in the company. Teachers Retirement System Of The State Of Kentucky accumulated 0.01% or 15,500 shares. Moreover, Gemmer Asset Management Ltd Liability Corp has 0% invested in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 87 shares. Blackrock Grp Ltd holds 0% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 60,132 shares. Louisiana State Employees Retirement Sys accumulated 20,300 shares or 0.05% of the stock. First Tru Limited Partnership reported 69,510 shares or 0.01% of all its holdings. Aristotle Boston Llc holds 0.3% or 28,442 shares in its portfolio. State Street Corp has 0.01% invested in the company for 1.78 million shares.

Insider Transactions: Since September 1, 2016, the stock had 0 insider purchases, and 2 insider sales for $204,929 net activity. Browning James H sold $131,375 worth of stock or 2,500 shares. ROSENBERG STEVE sold $73,554 worth of stock.

Another recent and important Texas Capital Bancshares Inc (NASDAQ:TCBI) news was published by Nasdaq.com which published an article titled: “Texas Capital Bancshares Reaches Analyst Target Price” on November 10, 2016.

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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