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 $425,600 were purchased by STALLINGS ROBERT W on Oct 22 ’24. At $21.28 per share, STALLINGS ROBERT W acquired 20,000 shares. The insider’s holdings grew to 84,587 shares worth approximately $7.23 million following the completion of this transaction.
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Also, STALLINGS ROBERT W purchased 1,187 shares, netting a total of over 24,678 in proceeds. Following the buying of shares at $20.79 each, the insider now holds 175,893 shares.
Before that, STALLINGS ROBERT W had added 480 shares to its account. In a trade valued at $10,013, the Director bought Texas Capital Bancshares, Inc shares for $20.86 each. Upon closing the transaction, the insider’s holdings increased to 480 shares, worth approximately $5.52 million.
As published in a research note from Hovde Group on October 18, 2024, Texas Capital Bancshares, Inc [TCBI] has been retained to a Market perform and the price target has been revised to $79. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of September 23, 2024, Hovde Group has reiterated its “Market perform” rating for TCBI. Earlier on September 17, 2024, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for TCBI stock which previously was a “a Mkt perform”.
Analyzing TCBI Stock Performance
During the last five days, there has been a surge of approximately 10.50%. Over the course of the year, Texas Capital Bancshares, Inc shares have jumped approximately 32.26%. Shares of the company reached a 52-week high of $86.00 on 11/06/24 and a 52-week low of $54.68 on 04/18/24. A 50-day SMA is recorded $72.98, while a 200-day SMA reached $63.57. Nevertheless, trading volume fell to 1.52 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 83.33, which, if violated, would cause prices to drop to 81.17. In the upper region, resistance lies at 86.82. The next price resistance is at 88.15. RSI (Relative Strength Index) is 74.99 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.63, which suggests the price will increase in the coming days. Percent R is at 4.73%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
