Third Coast Bancshares' (TCBX) Outperform Rating Reiterated at Raymond James

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Raymond James in a report released on Friday,Benzinga reports. They currently have a $39.00 price target on the stock, up from their prior price target of $34.00. Raymond James' price target suggests a potential upside of 6.30% from the company's previous close.

Separately, Stephens reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday.

Third Coast Bancshares Stock Up 4.6 %

NASDAQ TCBX traded up $1.61 during midday trading on Friday, hitting $36.69. The company had a trading volume of 114,412 shares, compared to its average volume of 50,356. The stock has a market cap of $501.92 million, a price-to-earnings ratio of 13.25 and a beta of 0.31. The firm has a fifty day simple moving average of $34.48 and a two-hundred day simple moving average of $29.22. Third Coast Bancshares has a fifty-two week low of $18.00 and a fifty-two week high of $37.65.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts predict that Third Coast Bancshares will post 2.78 earnings per share for the current year.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora purchased 1,450 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $35.33 per share, with a total value of $51,228.50. Following the acquisition, the insider now directly owns 6,050 shares of the company's stock, valued at approximately $213,746.50. This trade represents a 31.52 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Third Coast Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after acquiring an additional 760 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Third Coast Bancshares by 3.3% in the third quarter. Martingale Asset Management L P now owns 34,092 shares of the company's stock worth $913,000 after acquiring an additional 1,101 shares during the last quarter. R Squared Ltd bought a new position in shares of Third Coast Bancshares in the fourth quarter worth about $40,000. Empowered Funds LLC raised its stake in shares of Third Coast Bancshares by 5.0% in the third quarter. Empowered Funds LLC now owns 28,253 shares of the company's stock worth $756,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock worth $109,000 after acquiring an additional 2,454 shares during the last quarter. 36.88% of the stock is owned by institutional investors.

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.