Third Coast Bancshares (NASDAQ:TCBX) Given New $45.00 Price Target at Keefe, Bruyette & Woods

Third Coast Bancshares (NASDAQ:TCBX) had its target price raised by Keefe, Bruyette & Woods from $43.00 to $45.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also commented on TCBX. Zacks Research lowered shares of Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Stephens boosted their target price on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.50.

Third Coast Bancshares Price Performance

Shares of TCBX opened at $39.88 on Monday. Third Coast Bancshares has a 1 year low of $25.17 and a 1 year high of $42.63. The company has a market capitalization of $554.09 million, a price-to-earnings ratio of 12.20 and a beta of 0.37. The business has a 50-day moving average of $38.81 and a 200-day moving average of $38.36.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter. The business had revenue of $54.48 million for 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 anticipate that Third Coast Bancshares will post 3.1 EPS for the current year.

Insider Buying and Selling

In other Third Coast Bancshares news, Director W. Donald Brunson sold 1,500 shares of Third Coast Bancshares stock in a transaction on Monday, December 1st. The shares were sold at an average price of $38.55, for a total value of $57,825.00. Following the completion of the sale, the director directly owned 37,268 shares of the company’s stock, valued at approximately $1,436,681.40. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.28% of the company’s stock.

Institutional Trading of Third Coast Bancshares

Several large investors have recently made changes to their positions in TCBX. Adage Capital Partners GP L.L.C. increased its holdings in Third Coast Bancshares by 28.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 511,940 shares of the company’s stock worth $16,725,000 after acquiring an additional 112,605 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Third Coast Bancshares during the 3rd quarter valued at $3,462,000. Millennium Management LLC raised its stake in shares of Third Coast Bancshares by 88.2% during the 1st quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock valued at $5,924,000 after purchasing an additional 83,209 shares during the period. Franklin Resources Inc. lifted its holdings in Third Coast Bancshares by 435.4% during the 2nd quarter. Franklin Resources Inc. now owns 100,408 shares of the company’s stock worth $3,280,000 after purchasing an additional 81,655 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Third Coast Bancshares by 13.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 458,047 shares of the company’s stock worth $17,392,000 after purchasing an additional 54,713 shares during the period. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Third Coast Bancshares Company Profile

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.