Key Points
- Insider purchase: William Bobbora bought 1,200 shares of Third Coast Bancshares (TCBX) on Feb. 24 at an average price of $39.62 for $47,544, increasing his holdings to 48,306 shares (a 2.55% rise) valued at about $1.91M.
- Analyst sentiment: The stock carries a consensus "Moderate Buy" rating with an average target of $45.50, and recent upgrades/target raises from Stephens, Zacks and Keefe, Bruyette & Woods.
- Market and ownership context: TCBX trades near $39.93 with a market cap of ~$554.8M and a P/E of 12.21, a 12-month range of $25.17–$43.84, and roughly 36.9% of shares held by institutions that have recently increased stakes.
Third Coast Bancshares, Inc. (NASDAQ:TCBX - Get Free Report) insider William Bobbora bought 1,200 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of $39.62 per share, for a total transaction of $47,544.00. Following the completion of the transaction, the insider directly owned 48,306 shares in the company, valued at approximately $1,913,883.72. This represents a 2.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Third Coast Bancshares Trading Up 0.1%
Shares of NASDAQ:TCBX opened at $39.93 on Wednesday. The company has a market cap of $554.79 million, a price-to-earnings ratio of 12.21 and a beta of 0.37. Third Coast Bancshares, Inc. has a 12 month low of $25.17 and a 12 month high of $43.84. The company has a 50-day moving average price of $40.18 and a 200 day moving average price of $39.12.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on TCBX shares. Stephens boosted their target price on Third Coast Bancshares from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Tuesday, October 28th. Zacks Research upgraded Third Coast Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Third Coast Bancshares from $43.00 to $45.00 and gave the company a "market perform" rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.50.
View Our Latest Research Report on TCBX
Institutional Investors Weigh In On Third Coast Bancshares
A number of institutional investors and hedge funds have recently modified their holdings of TCBX. AQR Capital Management LLC boosted its holdings in Third Coast Bancshares by 21.7% during the 1st quarter. AQR Capital Management LLC now owns 38,431 shares of the company's stock valued at $1,282,000 after acquiring an additional 6,857 shares during the period. Millennium Management LLC increased its stake in Third Coast Bancshares by 88.2% in the first quarter. Millennium Management LLC now owns 177,521 shares of the company's stock worth $5,924,000 after purchasing an additional 83,209 shares during the period. Empowered Funds LLC lifted its position in shares of Third Coast Bancshares by 43.6% during the first quarter. Empowered Funds LLC now owns 42,604 shares of the company's stock worth $1,422,000 after purchasing an additional 12,945 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Third Coast Bancshares by 32,994.4% during the first quarter. Focus Partners Wealth now owns 41,699 shares of the company's stock valued at $1,391,000 after purchasing an additional 41,573 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of Third Coast Bancshares by 729,700.0% during the second quarter. AlphaQuest LLC now owns 7,298 shares of the company's stock valued at $238,000 after purchasing an additional 7,297 shares during the period. 36.88% of the stock is owned by institutional investors.
Third Coast Bancshares Company Profile
(
Get Free Report)
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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.
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