Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stock Has Consensus Target Price of $47.20

Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $47.20.

A number of research analysts recently commented on TCBX shares. Keefe, Bruyette & Woods lowered their price target on Third Coast Bancshares from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Tuesday, November 3rd. Piper Sandler started coverage on shares of Third Coast Bancshares in a report on Thursday, August 27th. They set an “overweight” rating and a $53.00 price objective for the company. Brean Capital began coverage on shares of Third Coast Bancshares in a report on Wednesday, September 30th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Benchmark upgraded shares of Third Coast Bancshares to a “strong-buy” rating in a research report on Thursday, September 24th.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average cost of $40.34 per share, with a total value of $40,340.00. Following the completion of the purchase, the insider owned 52,855 shares of the company’s stock, valued at approximately $2,132,170.70. The trade was a 1.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.48% of the company’s stock.

Institutional Trading of Third Coast Bancshares

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Third Coast Bancshares during the 2nd quarter valued at approximately $46,829,000. Bank of New York Mellon Corp purchased a new position in shares of Third Coast Bancshares in the second quarter valued at $13,553,000. Ategra Capital Management LLC purchased a new position in shares of Third Coast Bancshares in the second quarter valued at $10,560,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Third Coast Bancshares in the second quarter worth $4,951,000. Finally, Sei Investments Co. increased its position in Third Coast Bancshares by 172.5% in the first quarter. Sei Investments Co. now owns 178,570 shares of the company’s stock worth $6,756,000 after purchasing an additional 113,043 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Performance

Shares of Third Coast Bancshares stock traded down $0.01 during trading hours on Tuesday, hitting $39.67. The company’s stock had a trading volume of 51,577 shares, compared to its average volume of 98,706. The business has a 50 day moving average price of $41.97 and a two-hundred day moving average price of $40.88. Third Coast Bancshares has a 12-month low of $35.73 and a 12-month high of $46.35. The company has a market cap of $662.73 million, a PE ratio of 12.13 and a beta of 0.34.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Wednesday, October 21st. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.06. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%. The firm had revenue of $65.87 million during the quarter, compared to analyst estimates of $66.83 million. As a group, research analysts anticipate that Third Coast Bancshares will post 3.10 earnings per share for the current year.

About Third Coast Bancshares

Third Coast Bancshares, Inc. is a bank holding company whose primary subsidiary is Third Coast Bank, a Texas-chartered community bank. The company provides banking services to businesses, professionals and individuals, with a focus on serving commercial customers. Its offerings include commercial and industrial lending, commercial real estate loans, deposit accounts and treasury management services. The bank also provides personal banking and digital banking services. Headquartered in Texas, Third Coast Bank serves customers in markets across the state, including the greater Houston area and other major Texas metropolitan regions.