Financial stocks listed on the New York Stock Exchange or NASDAQ have gotten some tailwinds from Investors Title Company (ITIC), as one of the best performers in the sector during morning trading on April 21. At the lunch break, shares of ITIC have advanced 3.11% to $166.0 after closing the day prior at $161.0. In morning action, the stock has moved as high as $167.32 and as low as $161.8. Today’s rise has come with about 2,883 shares changing hands, compared to an average 30-day volume of 4,402 for Investors Title Company. The price is currently below the 30-day volume weighted average price of $164.67 for ITIC.
The share appreciation gives the company a market capitalization of $303.66 million based upon 1.89 million shares outstanding. It also means that ITIC has a price-to-book ratio of 1.94:1.
In the past 52 weeks, shares of ITIC have traded as low as $82.13 and as high as $174.1. Technical traders will take note that at $166.0, shares of ITIC are trading above their 200-day MA at $121.38 and above their 50-day MA at $142.73. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ITIC?
Investors Title Co is engaged in the issuance of residential and commercial title insurance through ITIC and NITIC. It also provides tax-deferred real property exchange services, investment management and trust services. The company’s 320 employees are led by CEO J. Allen Fine from the corporate headquarters at 121 North Columbia Street in Chapel Hill, NC.
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