Third Coast Bancshares (NASDAQ:TCBX) Trading Down 0.2% – Should You Sell?

Third Coast Bancshares, Inc. (NASDAQ:TCBX) shares were down 0.2% on Wednesday . The stock traded as low as $38.33 and last traded at $38.4330. Approximately 85,428 shares were traded during trading, an increase of 8% from the average daily volume of 79,333 shares. The stock had previously closed at $38.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TCBX shares. Zacks Research lowered shares of Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Stephens reduced their price target on shares of Third Coast Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Finally, Raymond James Financial upgraded shares of Third Coast Bancshares from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Third Coast Bancshares Stock Down 0.2%

The company has a market cap of $637.68 million, a P/E ratio of 11.75 and a beta of 0.34. The company’s 50-day moving average is $38.48 and its two-hundred day moving average is $39.07.

Hedge Funds Weigh In On Third Coast Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Third Coast Bancshares by 45.8% during the third quarter. JPMorgan Chase & Co. now owns 54,721 shares of the company’s stock worth $2,078,000 after purchasing an additional 17,184 shares during the period. Kennedy Capital Management LLC boosted its position in Third Coast Bancshares by 13.6% during the third quarter. Kennedy Capital Management LLC now owns 458,047 shares of the company’s stock worth $17,392,000 after purchasing an additional 54,713 shares during the period. Penn Capital Management Company LLC boosted its position in Third Coast Bancshares by 11.7% during the third quarter. Penn Capital Management Company LLC now owns 18,924 shares of the company’s stock worth $719,000 after purchasing an additional 1,982 shares during the period. Nottingham Advisors Inc. bought a new position in Third Coast Bancshares during the first quarter worth about $1,416,000. Finally, Hillsdale Investment Management Inc. boosted its position in Third Coast Bancshares by 1.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 162,100 shares of the company’s stock worth $6,161,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 36.88% of the company’s stock.

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. 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.