Keefe, Bruyette & Woods Downgrades Third Coast Bancshares Inc (TCBX) to Market Perform

Keefe, Bruyette & Woods analyst Wood Lay downgraded Third Coast Bancshares Inc (NASDAQ: TCBX) from Outperform to Market Perform with a price target of $42.00 (from $40.00).

The analyst comments: "4Q24 Operating results beat both KBW/consensus on higher NII and lower provisioning, partially offset by higher expenses. Growth was strong with loans up 8% LQA and deposits up a notable 31% LQA. TBV grew 2% q/q and was up an impressive 13.6% y/y. Following an impressive year of execution that saw substantial EPS growth and profitability improvement, we are moving to MP with valuation better reflective of the improved fundamentals as our updated $42 price target offers a more balance ~13% upside. Shares now trade at 11.0x '26E and 1.36x TBV. Rating is MP, though we remain positively biased given mgmt's track-record of execution."

For an analyst ratings summary and ratings history on Third Coast Bancshares Inc click here. For more ratings news on Third Coast Bancshares Inc click here.

Shares of Third Coast Bancshares Inc closed at $37.05 yesterday.

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