Texas Capital Bancshares, Inc.’s recently made public that its Director Long Thomas E acquired Company’s shares for reported $0.12 million on Feb 27 ’24. In the deal valued at $58.78 per share,2,000 shares were bought. As a result of this transaction, Long Thomas E now holds 7,542 shares worth roughly $0.44 million.
Then, STALLINGS ROBERT W bought 4,000 shares, generating $225,920 in total proceeds. Upon buying the shares at $56.48, the Director now owns 79,000 shares.
Before that, STALLINGS ROBERT W bought 4,000 shares. Texas Capital Bancshares, Inc. shares valued at $75,080 were divested by the Director at a price of $18.77 per share. As a result of the transaction, STALLINGS ROBERT W now holds 150,706 shares, worth roughly $8.84 million.
Raymond James downgraded its Texas Capital Bancshares, Inc. [TCBI] rating to a Mkt perform from a a Strong buy in a research note published recently. A number of analysts have revised their coverage, including Truist’s analysts, who decreased its forecast for the stock in early April from “a Buy” to “a Hold”. Barclays began covering TCBI with “an Underweight” recommendation on March 08, 2024. Citigroup started covering the stock on December 01, 2023. It rated TCBI as “a Neutral”.
Price Performance Review of TCBI
On Friday, Texas Capital Bancshares, Inc. [NASDAQ:TCBI] saw its stock jump 0.72% to $58.65. Over the last five days, the stock has lost -4.71%. Texas Capital Bancshares, Inc. shares have fallen nearly -9.25% since the year began. Nevertheless, the stocks have risen 21.48% over the past one year. While a 52-week high of $66.18 was reached on 01/02/24, a 52-week low of $42.79 was recorded on 02/13/24. SMA at 50 days reached $59.62, while 200 days put it at $59.17. A total of 0.58 million shares were traded, compared to the trading of 0.41 million shares in the previous session.
Levels Of Support And Resistance For TCBI Stock
The 24-hour chart illustrates a support level at 57.99, which if violated will result in even more drops to 57.33. On the upside, there is a resistance level at 59.22. A further resistance level may holdings at 59.80. The Relative Strength Index (RSI) on the 14-day chart is 46.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.31%. Stochastics %K at 14.63% indicates the stock is a buying.
How much short interest is there in Texas Capital Bancshares, Inc.?
A steep rise in short interest was recorded in Texas Capital Bancshares, Inc. stocks on Mar 15, 2024, dropping by -0.41 million shares to a total of 2.43 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.84 million shares. There was a decline of -16.87%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.78% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.32.
The most recent change occurred on March 15, 2023 when UBS began covering the stock and recommended ‘”a Sell”‘ rating along with a $51 price target.
