Third Coast Bancshares’ (TCBX) “Outperform” Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Third Coast Bancshares (NASDAQ:TCBX) in a research report released on Friday morning,Benzinga reports. Raymond James currently has a $39.00 price objective on the stock, up from their prior price objective of $34.00.

Separately, Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Third Coast Bancshares in a research note on Thursday.

Third Coast Bancshares Stock Up 4.6 %

Shares of NASDAQ TCBX opened at $36.69 on Friday. Third Coast Bancshares has a 12 month low of $18.00 and a 12 month high of $37.65. The company has a market cap of $501.92 million, a price-to-earnings ratio of 13.25 and a beta of 0.31. The business has a fifty day simple moving average of $34.48 and a 200-day simple moving average of $29.27.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 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, sell-side analysts expect that Third Coast Bancshares will post 2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Bobbora acquired 1,450 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now owns 6,050 shares in the company, valued at $213,746.50. This represents a 31.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Third Coast Bancshares

Institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares during the fourth quarter worth $40,000. SG Americas Securities LLC increased its position in Third Coast Bancshares by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after purchasing an additional 760 shares during the last quarter. Doliver Advisors LP raised its stake in shares of Third Coast Bancshares by 44.6% during the 4th quarter. Doliver Advisors LP now owns 20,250 shares of the company’s stock worth $687,000 after purchasing an additional 6,250 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Third Coast Bancshares by 131.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock valued at $625,000 after buying an additional 13,270 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Third Coast Bancshares by 254.6% in the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after buying an additional 11,437 shares in the last quarter. 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.