Fintel reports that on October 27, 2023, Raymond James maintained coverage of Third Coast Bancshares (NASDAQ:TCBX) with a Outperform recommendation.
Analyst Price Forecast Suggests 57.99% Upside
As of October 5, 2023, the average one-year price target for Third Coast Bancshares is 23.72. The forecasts range from a low of 22.22 to a high of $25.20. The average price target represents an increase of 57.99% from its latest reported closing price of 15.01.
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The projected annual revenue for Third Coast Bancshares is 153MM, an increase of 13.35%. The projected annual non-GAAP EPS is 2.05.
What is the Fund Sentiment?
There are 188 funds or institutions reporting positions in Third Coast Bancshares. This is an increase of 3 owner(s) or 1.62% in the last quarter. Average portfolio weight of all funds dedicated to TCBX is 0.06%, an increase of 2.63%. Total shares owned by institutions decreased in the last three months by 2.05% to 5,587K shares.
What are Other Shareholders Doing?
Banc Funds Co holds 488K shares representing 3.58% ownership of the company. No change in the last quarter.
Adage Capital Partners Gp, L.l.c. holds 405K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 635K shares, representing a decrease of 56.70%. The firm decreased its portfolio allocation in TCBX by 37.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 367K shares representing 2.70% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 301K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 279K shares, representing an increase of 7.41%. The firm increased its portfolio allocation in TCBX by 0.57% over the last quarter.
Alliancebernstein holds 295K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 261K shares, representing an increase of 11.63%. The firm increased its portfolio allocation in TCBX by 8.95% over 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.
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