Notable Mover: Texas Capital Bancshares Inc Sets 52-Week High; Strong Momentum for Holders

Notable Mover: Texas Capital Bancshares Inc Sets 52 Week High; Strong Momentum for Holders

The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) hit a new 52-week high and has $95.25 target or 54.00% above today’s $61.85 share price. The 8 months bullish chart indicates low risk for the $2.82 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $95.25 price target is reached, the company will be worth $1.52 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 284,530 shares traded hands. Texas Capital Bancshares Inc (NASDAQ:TCBI) has risen 67.67% since April 7, 2016 and is uptrending. It has outperformed by 62.89% the S&P500.

Texas Capital Bancshares Inc (NASDAQ:TCBI) Ratings Coverage

Out of 16 analysts covering Texas Capital Bancshares Inc. (NASDAQ:TCBI), 6 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 38% are positive. Texas Capital Bancshares Inc. has been the topic of 32 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “Strong Buy” rating given by Raymond James on Monday, May 9. The company was initiated on Friday, October 7 by Wedbush. Piper Jaffray downgraded Texas Capital Bancshares Inc (NASDAQ:TCBI) on Monday, August 17 to “Neutral” rating. The rating was downgraded by Hovde Group on Friday, April 1 to “Underperform”. The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) earned “Outperform” rating by Raymond James on Thursday, July 21. On Friday, October 9 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The rating was maintained by Piper Jaffray with “Neutral” on Monday, December 28. The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) earned “Neutral” rating by Sterne Agee CRT on Thursday, August 20. Drexel Hamilton downgraded Texas Capital Bancshares Inc (NASDAQ:TCBI) on Friday, July 24 to “Hold” rating. The rating was upgraded by Hovde Group to “Market Perform” on Wednesday, May 11.

According to Zacks Investment Research, “Texas Capital Bancshares’ primary subsidiary is Texas Capital Bank, a commercial bank that delivers highly personalized financial services to Texas-based businesses and private client individuals. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston, Plano, and San Antonio.”

Insitutional Activity: The institutional sentiment increased to 1.31 in Q2 2016. Its up 0.27, from 1.04 in 2016Q1. The ratio improved, as 14 funds sold all Texas Capital Bancshares Inc shares owned while 60 reduced positions. 31 funds bought stakes while 66 increased positions. They now own 46.34 million shares or 3.84% more from 44.63 million shares in 2016Q1.
Teachers Retirement Sys Of The State Of Kentucky reported 15,500 shares or 0.01% of all its holdings. Sei Invests reported 4,842 shares or 0% of all its holdings. Peak6 Invests Lp holds 9,530 shares or 0% of its portfolio. Loomis Sayles And Communications L P accumulated 0.03% or 238,767 shares. Moreover, State Of Tennessee Treasury Department has 0.01% invested in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 36,459 shares. Cipher Cap L P has 0.03% invested in the company for 10,184 shares. Swiss State Bank has 74,650 shares for 0.01% of their US portfolio. Td Asset last reported 0% of its portfolio in the stock. Peregrine Asset Advisers Inc, a Oregon-based fund reported 5,000 shares. Gemmer Asset Mngmt Limited Com accumulated 0% or 87 shares. Ridgeworth Mngmt Limited Liability Company has 8,342 shares for 0% of their US portfolio. New York State Teachers Retirement Systems has 109,931 shares for 0.01% of their US portfolio. The Colorado-based Public Employees Retirement Association Of Colorado has invested 0.11% in Texas Capital Bancshares Inc (NASDAQ:TCBI). D E Shaw & holds 0.01% or 61,837 shares in its portfolio. Livingston Asset Mngmt Co (Operating As Southport Cap Management) reported 280 shares or 0.01% of all its holdings.

Insider Transactions: Since September 1, 2016, the stock had 0 insider buys, and 2 sales for $204,929 net activity. $131,375 worth of Texas Capital Bancshares Inc (NASDAQ:TCBI) was sold by Browning James H on Thursday, September 1. 1,241 shares were sold by ROSENBERG STEVE, worth $73,554 on Wednesday, October 26.

More news for Texas Capital Bancshares Inc (NASDAQ:TCBI) were recently published by: Finance.Yahoo.com, which released: “Texas Capital Bancshares, Inc. Announces Quarterly Dividend for Preferred Stock” on October 24, 2016. Nasdaq.com‘s article titled: “Texas Capital Bank Expands Private Wealth Team in Austin” and published on November 01, 2016 is yet another important article.

TCBI Company Profile

Texas Capital Bancshares, Inc., incorporated on November 20, 1996, is a bank holding and a financial holding company. The Firm is the parent of Texas Capital Bank, National Association (the Bank). The Firm offers a range of loans, deposit accounts and other financial services and products. The Firm offers commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; real estate term and construction loans; mortgage finance lending; equipment leasing; treasury management services; wealth management and trust services, and letters of credit. The Firm provides a range of banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest bearing and non-interest bearing checking accounts with optional features, such as Visa debit/ automatic teller machine (ATM) cards and overdraft protection; traditional money market and savings accounts; loans, both secured and unsecured, and Internet banking. The Bank offers over 10 banking centers, courier services and online banking. BankDirect, the Internet division of its bank, serves its clients round the clock through Internet banking. The Company’s wealth management and trust services include investment management, personal trust and estate services, custodial services, retirement accounts and related services. It also offers retirement products, such as individual retirement accounts and administrative services for retirement vehicles, such as pension and profit sharing plans.

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