Third Coast Bancshares (NASDAQ:TCBX) Shares Gap Down – Time to Sell?

Third Coast Bancshares, Inc. (NASDAQ:TCBX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $41.94, but opened at $39.66. Third Coast Bancshares shares last traded at $40.01, with a volume of 7,942 shares trading hands.

Analyst Ratings Changes

Several research analysts recently commented on TCBX shares. Keefe, Bruyette & Woods lifted their target price on shares of Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Zacks Research raised shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.50.

Third Coast Bancshares Stock Up 0.6%

The company has a market capitalization of $572.41 million, a P/E ratio of 12.60 and a beta of 0.37. The company has a 50-day moving average of $40.19 and a two-hundred day moving average of $39.13.

Insider Activity

In other Third Coast Bancshares news, insider William Bobbora purchased 1,200 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $39.62 per share, with a total value of $47,544.00. Following the transaction, the insider directly owned 48,306 shares in the company, valued at approximately $1,913,883.72. The trade was a 2.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director W. Donald Brunson sold 1,500 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was 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 $1,436,681.40. The trade was a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Third Coast Bancshares in the third quarter worth $31,000. Quantbot Technologies LP bought a new position in Third Coast Bancshares in the 2nd quarter worth about $29,000. Ameritas Investment Partners Inc. grew its position in Third Coast Bancshares by 37.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock valued at $43,000 after purchasing an additional 356 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Third Coast Bancshares by 257.2% during the 4th quarter. State of Alaska Department of Revenue now owns 1,993 shares of the company’s stock valued at $75,000 after purchasing an additional 1,435 shares in the last quarter. Finally, CWM LLC raised its holdings in Third Coast Bancshares by 25.4% in the third quarter. CWM LLC now owns 2,456 shares of the company’s stock worth $93,000 after buying an additional 498 shares during the last quarter. Hedge funds and other 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.