Third Coast Bancshares (NASDAQ:TCBX) Price Target Raised to $43.00

by · The Markets Daily

Third Coast Bancshares (NASDAQ:TCBX – Free Report) had its price target increased by Keefe, Bruyette & Woods from $42.00 to $43.00 in a report published on Thursday, Marketbeat reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts have also issued reports on TCBX. Zacks Research upgraded shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Stephens raised their target price on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Third Coast Bancshares in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

View Our Latest Stock Analysis on TCBX

Third Coast Bancshares Stock Down 0.2%

Shares of Third Coast Bancshares stock opened at $36.75 on Thursday. The firm has a market capitalization of $509.41 million, a P/E ratio of 11.24 and a beta of 0.38. Third Coast Bancshares has a 52 week low of $25.17 and a 52 week high of $41.25. The firm’s 50 day moving average is $38.90 and its two-hundred day moving average is $35.22.

Institutional Investors Weigh In On Third Coast Bancshares

Several hedge funds have recently modified their holdings of TCBX. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Third Coast Bancshares by 28.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 511,940 shares of the company’s stock worth $16,725,000 after purchasing an additional 112,605 shares during the period. Nuveen LLC acquired a new stake in shares of Third Coast Bancshares during the first quarter worth $3,168,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of Third Coast Bancshares during the third quarter worth $3,462,000. Millennium Management LLC lifted its holdings in Third Coast Bancshares by 88.2% in the first quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock valued at $5,924,000 after acquiring an additional 83,209 shares during the period. Finally, Invesco Ltd. acquired a new stake in Third Coast Bancshares in the first quarter valued at $2,732,000. 36.88% of the stock is owned by institutional investors and hedge funds.

About Third Coast Bancshares

(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.

Recommended Stories