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 $24,678 were purchased by STALLINGS ROBERT W on Sep 10 ’24. At $20.79 per share, STALLINGS ROBERT W acquired 1,187 shares. The insider’s holdings grew to 175,893 shares worth approximately $14.17 million following the completion of this transaction.
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Also, STALLINGS ROBERT W purchased 480 shares, netting a total of over 10,013 in proceeds. Following the buying of shares at $20.86 each, the insider now holds 64,587 shares.
Before that, STALLINGS ROBERT W had added 10,000 shares to its account. In a trade valued at $202,000, the Director bought Texas Capital Bancshares, Inc. shares for $20.20 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $3.22 million.
As published in a research note from Hovde Group on September 23, 2024, Texas Capital Bancshares, Inc. [TCBI] has been retained to a Market perform and the price target has been revised to $73. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid September. As of September 09, 2024, BofA Securities has increased its “an Underperform” rating to a “Buy” for TCBI. Earlier on July 22, 2024, Citigroup downgraded its rating. Their new recommendation was “a Sell” for TCBI stock which previously was a “a Neutral”.
Analyzing TCBI Stock Performance
During the last five days, there has been a surge of approximately 9.33%. Over the course of the year, Texas Capital Bancshares, Inc. shares have jumped approximately 24.62%. Shares of the company reached a 52-week high of $82.25 on 10/17/24 and a 52-week low of $54.68 on 04/18/24. A 50-day SMA is recorded $68.60, while a 200-day SMA reached $62.51. Nevertheless, trading volume fell to 0.88 million shares from 0.61 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 78.50, which, if violated, would cause prices to drop to 76.47. In the upper region, resistance lies at 82.41. The next price resistance is at 84.29. RSI (Relative Strength Index) is 78.92 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.79, which suggests the price will increase in the coming days. Percent R is at 12.87%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
