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

Third Coast Bancshares, Inc. (NASDAQ:TCBX) Director W. Donald Brunson sold 1,500 shares of the 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 transaction, the director directly owned 37,268 shares in the company, valued at approximately $1,436,681.40. This represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Third Coast Bancshares Stock Down 1.2%

Third Coast Bancshares stock opened at $38.11 on Wednesday. The firm has a fifty day simple moving average of $37.77 and a two-hundred day simple moving average of $36.36. Third Coast Bancshares, Inc. has a twelve month low of $25.17 and a twelve month high of $41.25. The company has a market capitalization of $529.50 million, a PE ratio of 11.65 and a beta of 0.37.

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 for the quarter. As a group, equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Third Coast Bancshares in a research note on Saturday, September 27th. Keefe, Bruyette & Woods upped their price objective on shares of Third Coast Bancshares from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Stephens raised 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. Finally, Zacks Research upgraded Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Hedge Funds Weigh In On Third Coast Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Third Coast Bancshares by 10.2% during the 1st quarter. Acadian Asset Management LLC now owns 111,143 shares of the company’s stock worth $3,708,000 after acquiring an additional 10,329 shares during the period. Vanguard Group Inc. increased its stake in Third Coast Bancshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 652,898 shares of the company’s stock worth $21,787,000 after buying an additional 9,679 shares in the last quarter. Invesco Ltd. bought a new stake in Third Coast Bancshares during the first quarter valued at about $2,732,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Third Coast Bancshares by 19.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 399,335 shares of the company’s stock worth $13,326,000 after acquiring an additional 64,047 shares during the period. Finally, Inspire Investing LLC purchased a new stake in shares of Third Coast Bancshares during the first quarter worth about $760,000. 36.88% of the stock is currently owned by hedge funds and other 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.