Third Coast Bancshares (NASDAQ:TCBX) Price Target Raised to $45.00

Third Coast Bancshares (NASDAQ:TCBX) had its target price boosted by Keefe, Bruyette & Woods from $43.00 to $45.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other analysts have also recently issued reports about the company. Stephens boosted their price objective on Third Coast Bancshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Zacks Research downgraded Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Third Coast Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Third Coast Bancshares Price Performance

TCBX stock opened at $39.44 on Monday. The firm’s fifty day simple moving average is $38.94 and its 200-day simple moving average is $38.40. The company has a market capitalization of $547.98 million, a P/E ratio of 12.06 and a beta of 0.37. Third Coast Bancshares has a 12 month low of $25.17 and a 12 month high of $42.63.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $54.48 million during the quarter. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%. As a group, sell-side analysts forecast that Third Coast Bancshares will post 3.1 earnings per share for the current year.

Insiders Place Their Bets

In other Third Coast Bancshares news, Director W. Donald Brunson sold 1,500 shares of Third Coast Bancshares stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $38.55, for a total transaction of $57,825.00. Following the completion of the sale, the director directly owned 37,268 shares of the company’s stock, valued at $1,436,681.40. The trade was a 3.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in Third Coast Bancshares in the third quarter valued at $31,000. Quantbot Technologies LP acquired a new stake in shares of Third Coast Bancshares during the second quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Third Coast Bancshares in the 2nd quarter valued at about $33,000. Ameritas Investment Partners Inc. grew its stake in Third Coast Bancshares by 37.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after buying an additional 356 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Third Coast Bancshares by 257.2% during the fourth quarter. State of Alaska Department of Revenue now owns 1,993 shares of the company’s stock worth $75,000 after buying an additional 1,435 shares during the period. 36.88% of the stock is owned by hedge funds and other institutional investors.

About Third Coast Bancshares

Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include checking, savings, individual retirement, and money market accounts, as well as certificates of deposit. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.