Stephens Reiterates Overweight Rating for Third Coast Bancshares (NASDAQ:TCBX)

Third Coast Bancshares (NASDAQ:TCBX)‘s stock had its “overweight” rating reaffirmed by analysts at Stephens in a report released on Thursday,Benzinga reports. They presently have a $42.00 price target on the stock. Stephens’ price target points to a potential upside of 14.47% from the company’s previous close.

Third Coast Bancshares Stock Performance

Shares of TCBX stock opened at $36.69 on Thursday. The company has a market capitalization of $501.92 million, a price-to-earnings ratio of 13.25 and a beta of 0.31. Third Coast Bancshares has a one year low of $18.00 and a one year high of $37.65. The company’s 50-day moving average is $34.48 and its 200 day moving average is $29.16.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, research analysts predict that Third Coast Bancshares will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora bought 1,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the acquisition, the insider now owns 6,050 shares in the company, valued at $213,746.50. This trade represents a 31.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.

Institutional Trading of Third Coast Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Third Coast Bancshares in the fourth quarter worth about $40,000. Federated Hermes Inc. boosted its stake in Third Coast Bancshares by 196.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock worth $35,000 after purchasing an additional 1,093 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Third Coast Bancshares by 150.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after purchasing an additional 2,454 shares during the last quarter. SG Americas Securities LLC acquired a new position in Third Coast Bancshares during the 3rd quarter valued at approximately $115,000. Finally, Seizert Capital Partners LLC purchased a new position in shares of Third Coast Bancshares in the third quarter worth $321,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

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.