The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Texas Capital Bancshares, Inc. shares valued at $202,000 were purchased by STALLINGS ROBERT W on Aug 23 ’24. At $20.20 per share, STALLINGS ROBERT W acquired 10,000 shares. The insider’s holdings grew to 40,000 shares worth approximately $2.62 million following the completion of this transaction.
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Also, STALLINGS ROBERT W purchased 10,000 shares, netting a total of over 201,300 in proceeds. Following the buying of shares at $20.13 each, the insider now holds 30,000 shares.
Before that, STALLINGS ROBERT W had added 5,245 shares to its account. In a trade valued at $105,792, the Director bought Texas Capital Bancshares, Inc. shares for $20.17 each. Upon closing the transaction, the insider’s holdings increased to 5,245 shares, worth approximately $4.2 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 drop of approximately -0.71%. Over the course of the year, Texas Capital Bancshares, Inc. shares have jumped approximately 1.39%. 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 $63.31, while a 200-day SMA reached $60.52. Nevertheless, trading volume fell to 0.25 million shares from 0.32 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 65.05, which, if violated, would cause prices to drop to 64.57. In the upper region, resistance lies at 66.43. The next price resistance is at 67.33. RSI (Relative Strength Index) is 55.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.54, which suggests the price will increase in the coming days. Percent R is at 42.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
