Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stock Rated “Moderate Buy” by Wall Street Analysts

Third Coast Bancshares, Inc. (NASDAQ:TCBX) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $47.20.

TCBX has been the subject of a number of research reports. Piper Sandler assumed coverage on Third Coast Bancshares in a research report on Thursday, August 27th. They set an “overweight” rating and a $53.00 price target for the company. Brean Capital began coverage on Third Coast Bancshares in a report on Wednesday, September 30th. They issued a “neutral” rating and a $47.00 price objective on the stock. Benchmark raised Third Coast Bancshares to a “strong-buy” rating in a research note on Thursday, September 24th. Finally, Keefe, Bruyette & Woods decreased their target price on Third Coast Bancshares from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Tuesday, November 3rd.

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora purchased 1,000 shares of the business’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 acquisition, the insider owned 52,855 shares of the company’s stock, valued at approximately $2,132,170.70. This represents a 1.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.48% of the company’s stock.

Institutional Investors Weigh In On Third Coast Bancshares

Large investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Third Coast Bancshares during the 3rd quarter worth $450,000. Alps Advisors Inc. purchased a new position in Third Coast Bancshares in the third quarter valued at about $542,000. Commonwealth Equity Services LLC purchased a new position in Third Coast Bancshares in the third quarter valued at about $203,000. Verdence Capital Advisors LLC raised its position in Third Coast Bancshares by 5.0% in the third quarter. Verdence Capital Advisors LLC now owns 11,928 shares of the company’s stock valued at $506,000 after purchasing an additional 573 shares during the period. Finally, Wavvest Wealth LLC acquired a new position in shares of Third Coast Bancshares during the third quarter worth about $485,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Stock Up 3.0%

TCBX stock opened at $39.87 on Tuesday. The company has a market cap of $666.07 million, a price-to-earnings ratio of 12.19 and a beta of 0.34. The business has a fifty day simple moving average of $42.36 and a 200-day simple moving average of $40.90. Third Coast Bancshares has a 52 week low of $35.73 and a 52 week high of $46.35.

Third Coast Bancshares (NASDAQ:TCBX) last issued its earnings results on Wednesday, October 21st. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.06. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%. The business had revenue of $65.87 million for the quarter, compared to analyst estimates of $66.83 million. As a group, analysts expect that Third Coast Bancshares will post 3.10 earnings per share 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.