The stock of Texas Capital Bancshares Inc (NASDAQ:TCBI) reached all time high today, Nov, 18 and still has $112.53 target or 55.00% above today’s $72.60 share price. This indicates more upside for the $3.48B company. This technical setup was reported by Barchart.com. If the $112.53 PT is reached, the company will be worth $1.91 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 59,750 shares traded hands. Texas Capital Bancshares Inc (NASDAQ:TCBI) has risen 74.31% since April 18, 2016 and is uptrending. It has outperformed by 69.88% the S&P500.
Texas Capital Bancshares Inc (NASDAQ:TCBI) Ratings Coverage
Out of 16 analysts covering Texas Capital Bancshares Inc. (NASDAQ:TCBI), 5 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 31% are positive. Texas Capital Bancshares Inc. has been the topic of 33 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Friday, July 24 by Drexel Hamilton. The stock has “Neutral” rating given by Piper Jaffray on Monday, August 17. Raymond James downgraded the stock to “Outperform” rating in Thursday, July 21 report. As per Friday, April 1, the company rating was downgraded by Hovde Group. The firm earned “Market Perform” rating on Wednesday, May 11 by Hovde Group. The firm earned “Strong Buy” rating on Monday, May 9 by Raymond James. The stock has “Neutral” rating given by Piper Jaffray on Monday, December 28. The rating was downgraded by Bank of America on Wednesday, June 29 to “Neutral”. The rating was upgraded by DA Davidson to “Buy” on Friday, August 28. As per Friday, October 7, the company rating was initiated by Wedbush.
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 decreased to 1.25 in 2016 Q2. Its down 0.06, from 1.31 in 2016Q1. The ratio worsened, 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.
Shamrock Asset Management Limited Liability Corp last reported 0.01% of its portfolio in the stock. State Street reported 1.78 million shares or 0.01% of all its holdings. Bnp Paribas Arbitrage Sa holds 31,124 shares or 0.01% of its portfolio. Inv Counselors Of Maryland Llc last reported 207,777 shares in the company. Arizona State Retirement Systems accumulated 23,803 shares or 0.02% of the stock. Tdam Usa holds 0.06% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 26,583 shares. Moreover, State Teachers Retirement has 0.01% invested in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 109,931 shares. Massachusetts Financial Service Communications Ma has invested 0.02% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI). Livingston Asset Management (Operating As Southport Management) reported 280 shares or 0.01% of all its holdings. Sunbelt Securities accumulated 0% or 100 shares. Epoch holds 0.13% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 764,378 shares. Creative Planning has 0% invested in the company for 50 shares. Panagora Asset Mgmt holds 0.03% or 110,185 shares in its portfolio. Texas State Bank Tx, a Texas-based fund reported 20,000 shares. State Common Retirement Fund holds 0.01% of its portfolio in Texas Capital Bancshares Inc (NASDAQ:TCBI) for 187,650 shares.
Insider Transactions: Since September 1, 2016, the stock had 0 insider buys, and 2 selling transactions for $204,929 net activity. $73,554 worth of Texas Capital Bancshares Inc (NASDAQ:TCBI) shares were sold by ROSENBERG STEVE. 2,500 shares with value of $131,375 were sold by Browning James H on Thursday, September 1.
Another recent and important Texas Capital Bancshares Inc (NASDAQ:TCBI) news was published by Nasdaq.com which published an article titled: “Texas Capital Bancshares Reaches Analyst Target Price” on November 10, 2016.
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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