Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Third Coast Bancshares, Inc. (NASDAQ:TCBX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $47.20.

Several equities analysts have weighed in on TCBX shares. Benchmark upgraded shares of Third Coast Bancshares to a "strong-buy" rating in a report on Thursday, September 24th. Keefe, Bruyette & Woods reduced their price target on shares of Third Coast Bancshares from $48.00 to $46.00 and set a "market perform" rating on the stock in a report on Tuesday, November 3rd. Piper Sandler started coverage on shares of Third Coast Bancshares in a research report on Thursday, August 27th. They issued an "overweight" rating and a $53.00 price target on the stock. Finally, Brean Capital initiated coverage on shares of Third Coast Bancshares in a research note on Wednesday, September 30th. They set a "neutral" rating and a $47.00 price objective for the company.

Insider Activity

In other news, insider William Bobbora bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, October 26th. The shares were purchased at an average price of $40.34 per share, for a total transaction of $40,340.00. Following the completion of the transaction, the insider owned 52,855 shares in the company, valued at $2,132,170.70. The trade was a 1.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Third Coast Bancshares

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in Third Coast Bancshares in the 3rd quarter valued at about $450,000. Alps Advisors Inc. acquired a new position in shares of Third Coast Bancshares during the 3rd quarter valued at about $542,000. Commonwealth Equity Services LLC purchased a new position in shares of Third Coast Bancshares during the 3rd quarter worth about $203,000. Verdence Capital Advisors LLC lifted its holdings in shares of Third Coast Bancshares by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,928 shares of the company's stock worth $506,000 after acquiring an additional 573 shares during the period. Finally, Wavvest Wealth LLC purchased a new position in shares of Third Coast Bancshares during the 3rd quarter worth about $485,000. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Stock Performance

Third Coast Bancshares stock opened at $39.87 on Tuesday. Third Coast Bancshares has a fifty-two week low of $35.73 and a fifty-two week high of $46.35. The firm has a market capitalization of $666.07 million, a price-to-earnings ratio of 12.19 and a beta of 0.34. The stock's fifty day moving average is $42.36 and its two-hundred day moving average is $40.90.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.00 by $0.06. The business had revenue of $65.87 million for the quarter, compared to analyst estimates of $66.83 million. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. As a group, sell-side analysts forecast that Third Coast Bancshares will post 3.10 EPS for the current fiscal year.

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.

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