Third Coast Bancshares (NASDAQ:TCBX) Stock Rating Lowered by Raymond James

Third Coast Bancshares (NASDAQ:TCBX) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday,Finviz reports.

TCBX has been the subject of several other research reports. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Third Coast Bancshares in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th.

Third Coast Bancshares Stock Down 1.9 %

Shares of NASDAQ:TCBX opened at $32.74 on Wednesday. The company has a market cap of $451.45 million, a PE ratio of 11.82 and a beta of 0.32. Third Coast Bancshares has a fifty-two week low of $18.00 and a fifty-two week high of $39.45. The firm has a 50-day simple moving average of $35.23 and a 200 day simple moving average of $33.08.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. As a group, research analysts forecast that Third Coast Bancshares will post 3.1 EPS for the current fiscal year.

Insider Activity at Third Coast Bancshares

In related news, insider William Bobbora bought 2,000 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $32.35 per share, with a total value of $64,700.00. Following the purchase, 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 available through this hyperlink. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Third Coast Bancshares

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Third Coast Bancshares by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,502 shares of the company’s stock worth $221,000 after purchasing an additional 304 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after purchasing an additional 760 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Third Coast Bancshares in the 4th quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Third Coast Bancshares in the fourth quarter valued at $28,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Third Coast Bancshares by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company’s stock valued at $1,158,000 after buying an additional 942 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

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.