Stephens Issues Pessimistic Forecast for Third Coast Bancshares (NASDAQ:TCBX) Stock Price

Third Coast Bancshares (NASDAQ:TCBX) had its price target dropped by equities research analysts at Stephens from $46.00 to $45.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price objective suggests a potential upside of 19.87% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Raymond James Financial raised shares of Third Coast Bancshares from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, April 7th. Zacks Research cut shares of Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Third Coast Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Third Coast Bancshares Stock Down 2.8%

NASDAQ TCBX opened at $37.54 on Friday. The stock has a market capitalization of $621.74 million, a P/E ratio of 11.48 and a beta of 0.42. Third Coast Bancshares has a 52-week low of $27.49 and a 52-week high of $43.84. The firm has a 50-day moving average price of $39.41 and a 200 day moving average price of $39.09.

Insiders Place Their Bets

In related news, insider William Bobbora bought 1,200 shares of the stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of $39.62 per share, for a total transaction of $47,544.00. Following the completion of the transaction, the insider owned 48,306 shares of the company’s stock, valued at $1,913,883.72. This represents a 2.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCBX. Quantbot Technologies LP acquired a new position in Third Coast Bancshares during the second quarter worth about $29,000. Advisory Services Network LLC acquired a new position in Third Coast Bancshares during the third quarter worth about $31,000. State of Alaska Department of Revenue grew 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. CWM LLC grew its position in Third Coast Bancshares by 25.4% during the third quarter. CWM LLC now owns 2,456 shares of the company’s stock worth $93,000 after buying an additional 498 shares during the period. Finally, Mariner LLC acquired a new position in Third Coast Bancshares during the fourth quarter worth about $201,000. 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.