Third Coast Bancshares (NASDAQ:TCBX) Sets New 1-Year High – What’s Next?

Third Coast Bancshares, Inc. (NASDAQ:TCBX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.35 and last traded at $40.5850, with a volume of 21002 shares trading hands. The stock had previously closed at $40.21.

Analyst Ratings Changes

A number of research firms have commented on TCBX. Keefe, Bruyette & Woods lifted their target price on shares of Third Coast Bancshares from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Third Coast Bancshares in a research note on Saturday, September 27th. Zacks Research raised shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Finally, Stephens boosted their price objective on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. One investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Third Coast Bancshares Trading Down 2.3%

The company has a market capitalization of $562.92 million, a P/E ratio of 12.39 and a beta of 0.37. The firm’s 50 day moving average price is $38.10 and its two-hundred day moving average price is $37.00.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data 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 net margin of 16.30% and a return on equity of 12.05%. Analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Activity at Third Coast Bancshares

In other news, Director W. Donald Brunson sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $38.55, for a total value 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. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Third Coast Bancshares during the 2nd quarter worth approximately $29,000. Advisory Services Network LLC acquired a new position in Third Coast Bancshares during the third quarter worth $31,000. Ameritas Advisory Services LLC bought a new stake in Third Coast Bancshares during the second quarter worth $33,000. Ameritas Investment Partners Inc. lifted its stake in Third Coast Bancshares by 37.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock valued at $43,000 after acquiring an additional 356 shares during the last quarter. Finally, CWM LLC lifted its stake in Third Coast Bancshares by 25.4% in the third quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after acquiring an additional 498 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

About Third Coast Bancshares

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.