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

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

Third Coast Bancshares Trading Up 5.2 %

Shares of TCBX opened at $35.08 on Thursday. The stock has a market capitalization of $479.89 million, a price-to-earnings ratio of 12.66 and a beta of 0.31. Third Coast Bancshares has a 12 month low of $18.00 and a 12 month high of $37.65. The firm has a fifty day simple moving average of $34.44 and a 200 day simple moving average of $29.05.

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

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora purchased 1,450 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the completion of the purchase, the insider now directly owns 6,050 shares in the company, valued at $213,746.50. The trade was a 31.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Third Coast Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of TCBX. Wasatch Advisors LP bought a new position in Third Coast Bancshares during the third quarter worth about $6,811,000. Wellington Management Group LLP acquired a new stake in shares of Third Coast Bancshares in the third quarter valued at approximately $1,443,000. Inspire Investing LLC bought a new position in shares of Third Coast Bancshares during the 3rd quarter worth approximately $823,000. Dimensional Fund Advisors LP increased its holdings in shares of Third Coast Bancshares by 18.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock worth $4,058,000 after acquiring an additional 29,516 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 acquiring an additional 17,114 shares during the period. 36.88% of the stock is owned by institutional investors.

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.