Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stock Has Consensus Price Target of $47.60 According to Brokerages

Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $47.60.

Several analysts have commented on the stock. Piper Sandler initiated coverage on shares of Third Coast Bancshares in a research note on Thursday, August 27th. They issued an “overweight” rating and a $53.00 price target on the stock. Benchmark upgraded shares of Third Coast Bancshares to a “strong-buy” rating in a research report on Thursday, September 24th. Brean Capital assumed coverage on Third Coast Bancshares in a research report on Wednesday, September 30th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on Third Coast Bancshares from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd.

Hedge Funds Weigh In On Third Coast Bancshares

A number of large investors have recently added to or reduced their stakes in TCBX. Hsbc Holdings PLC boosted its holdings in shares of Third Coast Bancshares by 6.4% in the 1st quarter. Hsbc Holdings PLC now owns 7,442 shares of the company’s stock valued at $280,000 after buying an additional 450 shares in the last quarter. Corient Private Wealth LP boosted its position in shares of Third Coast Bancshares by 3.2% in the 2nd quarter. Corient Private Wealth LP now owns 21,048 shares of the company’s stock worth $850,000 after purchasing an additional 648 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Third Coast Bancshares by 4.6% in the 1st quarter. Quantinno Capital Management LP now owns 17,920 shares of the company’s stock worth $678,000 after purchasing an additional 783 shares in the last quarter. Doliver Advisors LP boosted its position in shares of Third Coast Bancshares by 4.2% in the 2nd quarter. Doliver Advisors LP now owns 21,107 shares of the company’s stock worth $853,000 after purchasing an additional 857 shares in the last quarter. Finally, Strs Ohio grew its stake in Third Coast Bancshares by 6.6% during the 1st quarter. Strs Ohio now owns 16,100 shares of the company’s stock worth $609,000 after buying an additional 1,000 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Stock Up 0.3%

NASDAQ TCBX opened at $41.33 on Friday. Third Coast Bancshares has a 52 week low of $35.73 and a 52 week high of $46.35. The company has a market capitalization of $685.71 million, a P/E ratio of 12.64 and a beta of 0.33. The stock’s 50-day moving average price is $44.07 and its 200-day moving average price is $41.27.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.90 by $0.18. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. The firm had revenue of $67.99 million for the quarter, compared to the consensus estimate of $62.75 million. Research analysts anticipate that Third Coast Bancshares will post 3.10 EPS for the current year.

Third Coast Bancshares declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 2nd that permits the company to buy back $30.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.5% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Third Coast Bancshares Company Profile

Third Coast Bancshares, Inc is the bank holding company for Third Coast Bank SSB, a Texas-based community bank. The company provides relationship-focused banking services to businesses, professionals and individuals through its banking operations in Texas.

Third Coast Bank offers commercial and consumer deposit products, including checking, savings and money market accounts, certificates of deposit and cash-management services. Its lending activities include commercial and industrial loans, commercial real estate financing, residential and other real estate loans, construction lending, and consumer loans.

Founded in 2008, Third Coast Bank serves communities in the Houston, Dallas-Fort Worth and other Texas markets through branch locations and digital banking channels.