Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Texas Capital Bancshares, Inc. shares valued at $300,000 were purchased by STALLINGS ROBERT W on Aug 02 ’24. At $20.00 per share, STALLINGS ROBERT W acquired 15,000 shares. The insider’s holdings grew to 20,000 shares worth approximately $1.29 million following the completion of this transaction.
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Also, STALLINGS ROBERT W purchased 14,000 shares, netting a total of over 279,020 in proceeds. Following the buying of shares at $19.93 each, the insider now holds 55,294 shares.
Before that, STALLINGS ROBERT W had added 10,000 shares to its account. In a trade valued at $204,700, the Director bought Texas Capital Bancshares, Inc. shares for $20.47 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $2.66 million.
As published in a research note from Citigroup on July 22, 2024, Texas Capital Bancshares, Inc. [TCBI] has been rated down from a Neutral to a Sell and the price target has been revised to $60. Analysts at Hovde Group resumed the stock at ‘”a Market perform”‘ outlook in a report released in mid April. As of April 04, 2024, Raymond James has decreased its “Strong buy” rating to a “Mkt perform” for TCBI. Earlier on April 01, 2024, Truist downgraded its rating. Their new recommendation was “a Hold” for TCBI stock which previously was a “a Buy”.
Analyzing TCBI Stock Performance
During the last five days, there has been a surge of approximately 5.80%. Over the course of the year, Texas Capital Bancshares, Inc. shares have dropped approximately -0.45%. Shares of the company reached a 52-week high of $72.07 on 07/17/24 and a 52-week low of $54.68 on 04/18/24. A 50-day SMA is recorded $61.96, while a 200-day SMA reached $60.09. Nevertheless, trading volume fell to 0.53 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for Texas Capital Bancshares, Inc. (TCBI)
According to the 24-hour chart, there is a support level at 63.27, which, if violated, would cause prices to drop to 62.21. In the upper region, resistance lies at 65.03. The next price resistance is at 65.72. RSI (Relative Strength Index) is 57.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.53, which suggests the price will increase in the coming days. Percent R is at 3.69%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
