Fintel reports that on April 27, 2023, Stephens & Co. reiterated coverage of Third Coast Bancshares (NASDAQ:TCBX) with a Overweight recommendation.
Analyst Price Forecast Suggests 53.00% Upside
As of April 24, 2023, the average one-year price target for Third Coast Bancshares is 21.42. The forecasts range from a low of 20.20 to a high of $23.10. The average price target represents an increase of 53.00% from its latest reported closing price of 14.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Third Coast Bancshares is 153MM, an increase of 25.27%. The projected annual non-GAAP EPS is 2.05.
What is the Fund Sentiment?
There are 166 funds or institutions reporting positions in Third Coast Bancshares. This is an increase of 9 owner(s) or 5.73% in the last quarter. Average portfolio weight of all funds dedicated to TCBX is 0.07%, a decrease of 12.33%. Total shares owned by institutions decreased in the last three months by 3.92% to 5,926K shares.
What are Other Shareholders Doing?
Adage Capital Partners Gp, L.l.c. holds 615K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 559K shares, representing an increase of 9.00%. The firm increased its portfolio allocation in TCBX by 14.15% over the last quarter.
Banc Funds Co holds 484K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 306K shares, representing an increase of 36.76%. The firm decreased its portfolio allocation in TCBX by 99.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 359K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 352K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in TCBX by 1.44% over the last quarter.
RMBKX - RMB Mendon Financial Services Fund holds 358K shares representing 2.63% ownership of the company. No change in the last quarter.
RMB Capital Management holds 358K shares representing 2.63% ownership of the company. No change in the last quarter.
Third Coast Bancshares Background Information
(This description is provided by the company.)
Third Coast Bancshares Inc. mission is to be the best company in the industry for its customers, employees and shareholders. TCB strives to be the company of choice by its customers, corporate role model in its communities, the investment of choice by its owners and model of integrity and excellence in the financial industry.
See all Third Coast Bancshares regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
