Third Coast Bancshares (NASDAQ:TCBX) Director W. Donald Brunson Sells 1,500 Shares

by · The Markets Daily

Third Coast Bancshares, Inc. (NASDAQ:TCBX – Get Free Report) Director W. Donald Brunson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $38.55, for a total value of $57,825.00. Following the transaction, the director owned 37,268 shares in the company, valued at $1,436,681.40. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Third Coast Bancshares Trading Down 1.2%

Third Coast Bancshares stock traded down $0.46 on Tuesday, hitting $38.11. 40,232 shares of the stock traded hands, compared to its average volume of 69,161. Third Coast Bancshares, Inc. has a 1 year low of $25.17 and a 1 year high of $41.25. The firm has a market cap of $529.50 million, a P/E ratio of 11.65 and a beta of 0.37. The business’s fifty day simple moving average is $37.81 and its 200 day simple moving average is $36.31.

Third Coast Bancshares (NASDAQ:TCBX – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. The business had revenue of $54.48 million for the quarter. As a group, analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Third Coast Bancshares during the 2nd quarter valued at approximately $29,000. Advisory Services Network LLC bought a new stake in shares of Third Coast Bancshares in the third quarter valued at about $31,000. Ameritas Advisory Services LLC bought a new position in shares of Third Coast Bancshares during the second quarter valued at approximately $33,000. Ameritas Investment Partners Inc. lifted its holdings in Third Coast Bancshares by 37.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after buying an additional 356 shares during the period. Finally, CWM LLC boosted its position in Third Coast Bancshares by 25.4% during the third quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Third Coast Bancshares from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Third Coast Bancshares in a report on Saturday, September 27th. Zacks Research raised shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Finally, Stephens increased their target price on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.67.

Get Our Latest Research Report on TCBX

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.

Read More