Third Coast Bancshares (NASDAQ:TCBX) Given “Overweight” Rating at Stephens

Stephens reaffirmed their overweight rating on shares of Third Coast Bancshares (NASDAQ:TCBX) in a research note published on Thursday morning,Benzinga reports. Stephens currently has a $42.00 target price on the stock.

Third Coast Bancshares Trading Up 5.2 %

Shares of NASDAQ TCBX opened at $35.08 on Thursday. Third Coast Bancshares has a 1 year low of $18.00 and a 1 year high of $37.65. The firm’s 50-day moving average is $34.44 and its 200-day moving average is $29.05. The firm has a market capitalization of $479.89 million, a PE ratio of 12.66 and a beta of 0.31.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that Third Coast Bancshares will post 2.78 earnings per share for the current fiscal year.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora acquired 1,450 shares of Third Coast Bancshares stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average price of $35.33 per share, with a total value of $51,228.50. Following the purchase, the insider now directly owns 6,050 shares of the company’s stock, valued at $213,746.50. The trade was a 31.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Third Coast Bancshares

Hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Third Coast Bancshares in the 4th quarter valued at $40,000. Federated Hermes Inc. increased its holdings in shares of Third Coast Bancshares by 196.6% in the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock worth $35,000 after acquiring an additional 1,093 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Third Coast Bancshares by 150.8% during the third 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 period. SG Americas Securities LLC bought a new position in shares of Third Coast Bancshares during the 3rd quarter valued at about $115,000. Finally, Seizert Capital Partners LLC acquired a new position in shares of Third Coast Bancshares in the 3rd quarter valued at approximately $321,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.

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.