Third Coast Bancshares (NASDAQ:TCBX) PT Raised to $26.00

Third Coast Bancshares (NASDAQ:TCBX) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $22.00 to $26.00 in a research report released on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Separately, Keefe, Bruyette & Woods restated an outperform rating and set a $28.00 price objective (up from $26.00) on shares of Third Coast Bancshares in a research note on Monday.

Third Coast Bancshares Stock Performance

TCBX opened at $22.46 on Monday. Third Coast Bancshares has a 52-week low of $14.09 and a 52-week high of $26.38. The stock has a market capitalization of $306.58 million, a PE ratio of 11.05 and a beta of 0.30. The stock’s 50 day moving average price is $21.39 and its 200-day moving average price is $20.25.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $84.11 million during the quarter, compared to analyst estimates of $41.00 million. Third Coast Bancshares had a return on equity of 8.84% and a net margin of 11.54%. During the same quarter last year, the firm posted $0.53 earnings per share. Research analysts forecast that Third Coast Bancshares will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Third Coast Bancshares news, insider William Bobbora acquired 1,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $21.32 per share, for a total transaction of $31,980.00. Following the purchase, the insider now directly owns 2,600 shares of the company’s stock, valued at $55,432. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.20% of the company’s stock.

Institutional Trading of Third Coast Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Third Coast Bancshares by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,984 shares of the company’s stock worth $850,000 after acquiring an additional 1,038 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Third Coast Bancshares by 51.5% during the 1st quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock valued at $6,588,000 after purchasing an additional 111,915 shares during the period. Quadrature Capital Ltd raised its stake in Third Coast Bancshares by 30.2% during the 1st quarter. Quadrature Capital Ltd now owns 26,730 shares of the company’s stock valued at $535,000 after purchasing an additional 6,200 shares during the period. Acadian Asset Management LLC purchased a new stake in Third Coast Bancshares during the 1st quarter valued at approximately $54,000. Finally, Vanguard Group Inc. increased its holdings in Third Coast Bancshares by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock valued at $12,724,000 after acquiring an additional 4,680 shares during the last quarter. Hedge funds and other institutional investors 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.