Third Coast Bancshares (NASDAQ:TCBX) Receives Overweight Rating from Stephens

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $42.00 price target on the stock. Stephens' price objective points to a potential upside of 14.47% from the company's previous close.

Third Coast Bancshares Trading Up 4.6 %

TCBX stock traded up $1.61 during midday trading on Thursday, hitting $36.69. 114,412 shares of the company's stock were exchanged, compared to its average volume of 72,081. The stock has a market capitalization of $501.92 million, a price-to-earnings ratio of 13.25 and a beta of 0.31. The firm has a 50 day moving average price of $34.48 and a 200-day moving average price of $29.16. Third Coast Bancshares has a 12-month low of $18.00 and a 12-month 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 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Third Coast Bancshares will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora purchased 1,450 shares of the business's stock in a transaction on Thursday, December 5th. The stock was bought at an average cost of $35.33 per share, with a total value of $51,228.50. Following the acquisition, the insider now 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 legal filing with the SEC, which is available through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Third Coast Bancshares

Several hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP bought a new stake in shares of Third Coast Bancshares during the 3rd quarter worth $6,811,000. Wellington Management Group LLP purchased a new stake in Third Coast Bancshares in the 3rd quarter worth about $1,443,000. Inspire Investing LLC acquired a new stake in Third Coast Bancshares during the 3rd quarter worth about $823,000. Dimensional Fund Advisors LP grew its stake in Third Coast Bancshares by 18.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company's stock valued at $4,058,000 after acquiring an additional 29,516 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Third Coast Bancshares by 100.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,199 shares of the company's stock valued at $916,000 after purchasing an additional 17,114 shares during the period. Institutional investors and hedge funds 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.