Third Coast Bancshares (NASDAQ:TCBX) Stock Price Target Lowered at Keefe, Bruyette & Woods

Third Coast Bancshares (NASDAQ:TCBX) had its price objective decreased by analysts at Keefe, Bruyette & Woods from $48.00 to $46.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s target price points to a potential upside of 13.10% from the stock’s current price.

TCBX has been the subject of a number of other research reports. Benchmark raised Third Coast Bancshares to a “strong-buy” rating in a research note on Thursday, September 24th. Brean Capital assumed coverage on shares of Third Coast Bancshares in a research note on Wednesday, September 30th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Third Coast Bancshares in a research note on Thursday, August 27th. They issued an “overweight” rating and a $53.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.20.

Third Coast Bancshares Price Performance

Shares of TCBX opened at $40.67 on Tuesday. Third Coast Bancshares has a 1-year low of $35.73 and a 1-year high of $46.35. The company has a market capitalization of $674.83 million, a P/E ratio of 12.44 and a beta of 0.33. The firm’s 50 day simple moving average is $42.91 and its 200 day simple moving average is $40.88.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.00 by $0.06. The firm had revenue of $65.87 million for the quarter, compared to analyst estimates of $66.83 million. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%. On average, equities analysts anticipate that Third Coast Bancshares will post 3.10 earnings per share for the current year.

Insider Buying and Selling

In other news, insider William Bobbora acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average cost of $40.34 per share, with a total value of $40,340.00. Following the transaction, the insider owned 52,855 shares of the company’s stock, valued at $2,132,170.70. This trade represents a 1.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.48% of the company’s stock.

Hedge Funds Weigh In On Third Coast Bancshares

Hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in Third Coast Bancshares during the second quarter valued at approximately $40,000. Legal & General Group Plc bought a new stake in Third Coast Bancshares in the 2nd quarter worth approximately $61,000. IFP Advisors Inc grew its position in Third Coast Bancshares by 20,909.1% in the 2nd quarter. IFP Advisors Inc now owns 4,622 shares of the company’s stock worth $187,000 after purchasing an additional 4,600 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Third Coast Bancshares during the 3rd quarter valued at $203,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Third Coast Bancshares during the 2nd quarter valued at $286,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

About Third Coast Bancshares

Third Coast Bancshares, Inc is the bank holding company for Third Coast Bank SSB, a Texas-based community bank. The bank provides relationship-focused financial services to businesses, professionals and individuals through a network of banking offices and digital banking channels.

Its products and services include commercial and industrial loans, commercial real estate financing, construction and development loans, residential real estate lending, consumer loans and deposit accounts. The bank also offers treasury management, online and mobile banking, cash-management services and other solutions designed to support business and personal financial needs.

Founded in 2008, Third Coast Bank serves customers in key Texas markets, including the Houston, Dallas-Fort Worth and Austin areas.