Third Coast Bancshares (NASDAQ:TCBX) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Third Coast Bancshares (NASDAQ:TCBX) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their target price 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. Stephens lifted their price target on Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Third Coast Bancshares Stock Performance

NASDAQ:TCBX traded down $0.38 during trading hours on Monday, reaching $39.48. The stock had a trading volume of 13,054 shares, compared to its average volume of 76,122. Third Coast Bancshares has a 52 week low of $25.17 and a 52 week high of $42.63. The company has a 50 day moving average price of $38.88 and a two-hundred day moving average price of $38.39. The stock has a market capitalization of $548.47 million, a PE ratio of 12.07 and a beta of 0.37.

Third Coast Bancshares (NASDAQ:TCBX) last posted its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%.The firm had revenue of $54.48 million during the quarter. Equities research analysts predict that Third Coast Bancshares will post 3.1 EPS for the current year.

Insider Activity

In related news, Director W. Donald Brunson sold 1,500 shares of the business’s stock in a transaction on 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 transaction, the director owned 37,268 shares in the company, valued at $1,436,681.40. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.28% of the company’s stock.

Institutional Trading of Third Coast Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in shares of Third Coast Bancshares in the second quarter worth about $29,000. Advisory Services Network LLC purchased a new stake in Third Coast Bancshares in the 3rd quarter valued at about $31,000. Ameritas Advisory Services LLC purchased a new stake in 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% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after acquiring an additional 356 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of 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 acquiring an additional 1,435 shares during the period. 36.88% of the stock is currently owned by institutional investors.

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.