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Downgrade Alert for Texas Capital Bancshares (TCBI)

By Amy Schwartz

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $48.93 on volume of 1.1 million shares, above average daily volume of 613,000.

Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank, NA. The Bank attracts deposits from the general public and invests those funds in loans secured by single-family residential loans and commercial real estate, secured and unsecured commercial loans, and consumer loans. The Bank's current primary market is the greater Dallas/Fort Worth metropolitan area.

In the past 52 weeks, shares of Texas Capital Bancshares have traded between a low of $29.78 and a high of $63.70 and closed yesterday at $48.93, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 2.3%.

Potential upside of 23.1% exists for Texas Capital Bancshares, based on a current level of $48.93 and analysts' average consensus price target of $60.23. The stock should find initial support at its 200-day moving average (MA) of $47.54 and further support at its 50-day MA of $39.27.

SmarTrend is monitoring the recent change of momentum in Texas Capital Bancshares. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Texas Capital Bancshares in search of a potential trend change.

Keywords: analyst upgrades/downgrades texas capital bancshares

Ticker(s): TCBI