Third Coast Bancshares (NASDAQ:TCBX) Given New $36.00 Price Target at Keefe, Bruyette & Woods

Third Coast Bancshares (NASDAQ:TCBX - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $39.00 to $36.00 in a research note published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Stephens reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Raymond James cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.

Third Coast Bancshares Price Performance

NASDAQ:TCBX traded up $0.54 during mid-day trading on Friday, hitting $28.78. 119,751 shares of the company's stock were exchanged, compared to its average volume of 60,658. Third Coast Bancshares has a one year low of $18.82 and a one year high of $39.45. The business has a fifty day moving average price of $31.87 and a 200 day moving average price of $33.42. The company has a market cap of $397.88 million, a PE ratio of 10.39 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.08. The business had revenue of $45.90 million during the quarter, compared to analysts' expectations of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, equities analysts forecast that Third Coast Bancshares will post 3.1 EPS for the current fiscal year.

Insider Activity

In other Third Coast Bancshares news, insider William Bobbora bought 2,000 shares of Third Coast Bancshares stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $32.35 per share, with a total value of $64,700.00. Following the completion of the acquisition, the insider now owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Institutional Trading of Third Coast Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inscription Capital LLC purchased a new stake in Third Coast Bancshares during the first quarter valued at approximately $1,678,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Third Coast Bancshares during the first quarter valued at approximately $407,000. Annex Advisory Services LLC purchased a new stake in Third Coast Bancshares during the first quarter valued at approximately $1,752,000. GAMMA Investing LLC increased its holdings in Third Coast Bancshares by 3,294.8% during the first quarter. GAMMA Investing LLC now owns 17,619 shares of the company's stock valued at $588,000 after buying an additional 17,100 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Third Coast Bancshares during the fourth quarter valued at approximately $792,000. 36.88% of the stock is owned by hedge funds and other 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.