Investors Snag TCBI Even Cheaper Than Its Secondary Stock Offering

Jan 27 2014, 11:14am CST | by

Looking back to 3 days ago, Texas Capital Bancshares Inc (NASD: TCBI) priced a 1,700,000 share secondary stock offering at $60.25 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of TCBI and achieve a cost basis even cheaper than those buyers, with shares changing hands as low as $60.03 per share.

Click Here To See All Recent Secondary Stock Offerings »

Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Texas Capital Bancshares Inc shares are currently trading off about 0.2% on the day. The chart below shows the one year performance of TCBI shares, versus its 200 day moving average:

Looking at the chart above, TCBI’s low point in its 52 week range is $36.75 per share, with $63.99 as the 52 week high point — that compares with a last trade of $60.03.


Special Offer: Try OLI Premium and get reports on Splits, Buybacks, and M&A daily

According to the ETF Finder at ETFChannel.com, TCBI makes up 3.18% of the KBW Regional Banking Portfolio ETF (AMEX: KBWR) which is trading relatively unchanged on the day Monday.


Special Offer: Try OLI Premium and get reports on Splits, Buybacks, and M&A daily

Source: Forbes Business

/>/>/>/>
 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Comcast Terminates Merger Agreement with Time Warner
Comcast Terminates Merger Agreement with Time Warner
It is official. Comcast announced that there will be no Time Warner deal.
 
 
Starbucks Stores to reopen Today after Computer Outage
Starbucks Stores to reopen Today after Computer Outage
Starbucks, Evolution Fresh and Teavana Tea Bar all suffered a drastic computer outage and shut down early Friday night to deal with the on-hand crisis to open up shop on Saturday.
 
 
Microsoft and Yahoo announce new Search Deal with Big Changes
Microsoft and Yahoo announce new Search Deal with Big Changes
Bing is now the #2 search engine with 20% marketshare behind Google. On the heel of this news, Microsoft and Yahoo announce a new search deal.
 
 
Bloomberg Terminals go down affecting Traders Worldwide
Bloomberg Terminals go down affecting Traders Worldwide
Bloomberg terminals went down in London and affected the traders dealing on the terminal worldwide.