Third Coast Bancshares (NASDAQ:TCBX) Director Sells $57,825.00 in Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX) Director W. Donald Brunson sold 1,500 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $38.55, for a total transaction of $57,825.00. Following the sale, the director directly owned 37,268 shares in the company, valued at approximately $1,436,681.40. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Third Coast Bancshares Stock Down 0.5%

Shares of Third Coast Bancshares stock opened at $38.90 on Friday. Third Coast Bancshares, Inc. has a 12 month low of $25.17 and a 12 month high of $41.25. The stock has a market cap of $540.49 million, a PE ratio of 11.90 and a beta of 0.37. The business has a fifty day simple moving average of $37.76 and a 200-day simple moving average of $36.39.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share (EPS) for the quarter. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%.The firm had revenue of $54.48 million during the quarter. Analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TCBX shares. Zacks Research upgraded shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Stephens lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on Third Coast Bancshares from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Third Coast Bancshares in a report on Saturday, September 27th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.67.

Hedge Funds Weigh In On Third Coast Bancshares

A number of institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of Third Coast Bancshares during the 2nd quarter worth about $29,000. Advisory Services Network LLC acquired a new position in shares of Third Coast Bancshares during the third quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Third Coast Bancshares in the second quarter valued at approximately $33,000. Ameritas Investment Partners Inc. grew its stake in shares of Third Coast Bancshares by 37.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after acquiring an additional 356 shares during the last quarter. Finally, CWM LLC increased 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 worth $93,000 after acquiring an additional 498 shares during the period. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Company Profile

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.