Revised Price Target Soars
A wave of optimism engulfs Third Coast Bancshares (NasdaqGS:TCBX) as the average one-year price target for the company is now set at an impressive 23.87 per share, marking a robust 8.33% surge from the previous estimate of 22.03 dated January 16, 2024. This revised target is an amalgamation of various analyst forecasts, ranging from a low of 20.20 to a high of 27.30 per share. Notably, this uplift represents a substantial 24.83% increase from the latest closing price of 19.12 per share.
Fund Sentiment
Embarking on a journey into the heart of Third Coast Bancshares, we discover that there are currently 188 funds or institutions reporting positions in the company. This figure reflects a marginal decline of 1.05% or 2 owners in the last quarter. Remarkably, the average portfolio weight for all funds dedicated to TCBX stands at 0.05%, indicating a noteworthy decrease of 24.28%. Furthermore, the total shares owned by institutions have experienced a 2.04% decline in the past three months, amounting to 5,454K shares.
Diving deeper, various shareholders exhibit intriguing behaviors. For instance, Banc Funds Co continues to hold 488K shares, representing a stable 3.58% ownership of the company with no changes in the last quarter.
Shifting focus, Adage Capital Partners Gp, L.l.c. portrays a dynamic stance with 433K shares, equating to a 3.18% ownership of Third Coast Bancshares. Noteworthy is their substantial increase in the portfolio allocation by 13.51% over the last quarter, reflecting a marked uptrend in confidence.
In a comparable vein, Alliancebernstein enhances its stake in TCBX by 7.67% over the last quarter, holding 307K shares that amount to 2.25% ownership of the company. This incremental move underscores a growing affinity towards the financial entity.
Crossing the border into the realms of Third Coast Bancshares Inc., a vision unfolds – to stand as a pinnacle entity in the industry for customers, employees, and shareholders alike. With aspirations to be the preferred choice for customers, a beacon of corporate responsibility in communities, and an epitome of integrity and excellence in finance, TCB radiates a vision of grandeur.
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This narrative was first unveiled on Fintel.
The views and opinions articulated herein solely represent the author’s perspective and do not necessarily mirror those of Nasdaq, Inc.
