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Downgrade Alert for Texas Capital Bancshares (TCBI)

By David Diaz

Texas Capital Bancshares (NASDAQ:TCBI) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $45.65 on volume of 817,000 shares, above average daily volume of 613,000.

Texas Capital Bancshares (NASDAQ:TCBI) has potential upside of 31.9% based on a current price of $45.65 and analysts' consensus price target of $60.23. The stock should hit resistance at its 200-day moving average (MA) of $47.54, as well as support at its 50-day MA of $39.27.

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, Texas Capital Bancshares share prices have been bracketed by a low of $29.78 and a high of $63.70 and closed yesterday at $45.65, 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has slid 0.7%.

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