Third Coast Bancshares (NASDAQ:TCBX) Price Target Lowered to $45.00 at Stephens

Third Coast Bancshares (NASDAQ:TCBX) had its price target cut by Stephens from $46.00 to $45.00 in a research report report published on Friday, MarketBeat reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods boosted their price objective on Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Raymond James Financial raised Third Coast Bancshares from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, April 7th. Finally, Zacks Research downgraded Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Third Coast Bancshares Price Performance

TCBX opened at $37.54 on Friday. Third Coast Bancshares has a fifty-two week low of $27.49 and a fifty-two week high of $43.84. The firm has a market capitalization of $621.74 million, a PE ratio of 11.48 and a beta of 0.42. The company’s 50-day moving average is $39.41 and its 200 day moving average is $39.08.

Insiders Place Their Bets

In other news, insider William Bobbora acquired 1,200 shares of Third Coast Bancshares stock in a transaction on Tuesday, February 24th. The stock was acquired at an average cost of $39.62 per share, with a total value of $47,544.00. Following the transaction, the insider owned 48,306 shares of the company’s stock, valued at approximately $1,913,883.72. This trade represents a 2.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.28% of the company’s stock.

Hedge Funds Weigh In On Third Coast Bancshares

Several hedge funds have recently modified their holdings of TCBX. Advisory Services Network LLC purchased a new position in shares of Third Coast Bancshares in the 3rd quarter worth approximately $31,000. Quantbot Technologies LP purchased a new stake in shares of Third Coast Bancshares during the second quarter valued at approximately $29,000. 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 valued at $75,000 after acquiring an additional 1,435 shares during the last quarter. CWM LLC lifted its holdings in Third Coast Bancshares by 25.4% during the third quarter. CWM LLC now owns 2,456 shares of the company’s stock worth $93,000 after acquiring an additional 498 shares during the period. Finally, Mariner LLC bought a new stake in Third Coast Bancshares during the fourth quarter worth $201,000. Institutional investors own 36.88% of the company’s stock.

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.