Texas Capital Bancshares Inc. (NASDAQ: TCBI) shares rose in value Thursday Dec 15 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Bank of America Corp. upgraded shares of Texas Capital Bancshares Inc. (NASDAQ: TCBI) from Neutral to Buy today. The company currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have commented on the stock recently, and Texas Capital Bancshares Inc. has secured a consensus one-year price target of $75.06, a decrease compared to the opening price of $78.45. Texas Capital Bancshares Inc. stock has a 52-week high of $79.40. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.
Shares of Texas Capital Bancshares Inc. (NASDAQ: TCBI) opened at $78.45 on Tuesday and has traded in a range between, $77.80 and $79.40, and last traded at $79.00, which is an increase of $1.80 or 2.33% compared to the previous closing price.
Texas Capital Bancshares Inc. (NASDAQ: TCBI) currently has a market cap of 3.64B.
Texas Capital Bancshares Inc. (NASDAQ: TCBI) Average Daily Trading Volume
The stock’s average daily volume is 505,967 shares out of a total float 45,547,000 and some 80,686 shares traded hands yesterday, lower than the norm. Momentum traders often use upticks in trading volume to identify substantial volume accumulation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
However, one day of significant buy side trading is not enough to affirm a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Texas Capital Bancshares Inc. (NASDAQ: TCBI) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Texas Capital Bancshares Inc. (NASDAQ: TCBI) now has a 50-day MA of $68.94 and 200-day MA of $55.47. It has traded in a 52-week range between $29.78 – 79.40 and today’s last price is 0.50%% lower than the 52 week high of $79.40.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% over the past 3 years.
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