Third Coast Bancshares Stock (NASDAQ: TCBX)

Third Coast Bancshares (NASDAQ:TCBX) Stock, Quote.Headers.trade-ideas

Third Coast Bancshares

Third Coast Bancshares Inc is a bank holding company. It focuses on providing commercial banking solutions to small and medium-sized businesses and professionals with operations in its markets. The bank operates eleven branches in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, and one branch in Detroit, Texas. The company has one segment, community banking, it generates most of its revenue from interest on loans, customer service, and loan fees.

Third Coast Bancshares, Inc. - Common Stock

Third Coast Bancshares Inc

Barclays analyst Raimo Lenschow maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Equal-Weight and lowers the price target from $106 to $90.

News

Price Target

Analyst Ratings

ESTC

Barclays Maintains Equal-Weight on Elastic, Lowers Price Target to $90

Stifel analyst Steven Wieczynski maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Buy and raises the price target from $25 to $27.

Stifel Maintains Buy on Carnival, Raises Price Target to $27

A generational divide is emerging in the investment strategies of America&#8217;s wealthy, with younger millionaires increasingly shunning traditional stock market investments in favor of <a href="https://www.benzinga.com/alternative-investments">riskier, alternative assets</a>. The shift, experts caution, may reflect a short-term mindset that could potentially hinder long-term wealth accumulation.
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According to the 2024 Bank of America Private Bank Study of Wealthy Americans, only 28% of wealthy individuals aged 21 to 43 believe achieving above-average returns with stocks and bonds is possible. That stands in contrast to their older counterparts, with 72% of those 44 and older expressing confidence in classic investing practices.
The study surveyed individuals with at least $3 million in investable assets and found that younger wealthy investors rank stocks behind seven other investment types, including real estate, cryptocurrency and private equity. The preference for alternative investments comes despite the historical performance of the broad U.S. stock market, which has returned an average of 10% annually over the past century when accounting for reinvested dividends.
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Brad Klontz, a certified financial planner and professor of financial psychology at Creighton University, suggests that the divide in investment strategies may be rooted in cognitive biases common among younger investors, regardless of wealth level.
&#8220;The desire to push against conventional wisdom is a really important developmental stage,&#8221; Klontz explained to CNBC. &#8220;Young people on social media tell me that [traditional investing advice] isn&#8217;t how it&#8217;s done anymore. Everything&#8217;s changed. This is something that people have been saying for thousands of years.&#8221;
Trending: The startup behind White Castle's favorite Robot Fry Cook announces a next-generation fast food robot –<a href="https://www.benzinga.com/money/miso-robotics-flippy"> Here's how to get a share for under $5 today.</a>
Klontz said that the allure of cryptocurrencies and other alternative assets often stems from a <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40580243/crypto-trader-turns-5-000-into-millions-shares-key-insights-from-his-journey-looking-in-hi">desire for rapid wealth accumulation</a>. &#8220;When it comes to some of the tried-and-true approaches to investing, it really is a long game. And when I hear people talk about crypto and alternative assets, that&#8217;s much more of a short-game mindset. They&#8217;re probably interested in making money faster.&#8221;
Another factor driving young millionaires&#8217; investment choices is the perceived exclusivity of certain assets. Real estate, private equity deals and direct investments into companies all require substantial capital, often beyond the reach of average investors. That barrier to entry can create a false sense of superiority in those investments.
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However, Klontz warns against conflating exclusivity with superior returns. He told CNBC that investors can gain exposure to the S&amp;P 500 for a minimal fee through its exchange-traded fund (ETF), SPDR S&amp;P 500 ETF Trust. Over the past 30 years, the market index has outperformed the U.S. residential real estate market and it carries less risk.
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The preference for exclusive investments may also come at a cost. According to the report, private equity funds, for instance, often charge fees of 1.5% to 2% of invested assets annually, plus 20% of annual profits above a certain threshold. &#8220;We&#8217;re all inherently obsessed with our status. Denying it just tells me that you&#8217;re psychologically immature,&#8221; Klontz said.
While alternative investments may offer the potential for high returns, they also come with increased risks. Young millionaires will have to balance their desire for novel investment opportunities with the proven track record of traditional market investments.
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Startups

Young Millionaires Favor Risky Bets Over Stocks – And Experts Warn Crypto And Alt Assets Are 'Much More Of A Short-Game Mindset'

Barclays analyst Adrienne Yih maintains Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) with a Overweight, adjusts target to $180 from $1090 (Forward Stock Split 6:1).

DECK

Barclays Maintains Overweight on Deckers Outdoor, Adjusts Price Target To $180 (Forward Stock Split 6:1)

Cantor Fitzgerald analyst Eric Schmidt reiterates Agios Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIO#NASDAQ">AGIO</a>) with a Overweight.

Reiteration

AGIO

Cantor Fitzgerald Reiterates Overweight on Agios Pharmaceuticals

VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower in the morning session on Friday.</a>
The company reported a second-quarter <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1913510/000110465924101517/tm2424378d1_ex99-1.htm" rel="noreferrer noopener">loss per share </a>of 33 cents, missing the street view of a 21-cent loss. Quarterly sales of $357.4 million missed the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">analyst consensus of $460.09 million.</a>
&#8220;We have acknowledged some headwinds and uncertainties adversely challenging EV outlook at this point of time in some markets..,&#8221; said Thuy Le, Chairwoman of VinFast.&nbsp;
EV deliveries&nbsp;were 13,172 in the second quarter, representing an increase of 43% year over year.
E-scooter deliveries were 13,076 in the second quarter, representing an increase of 28% year over year.
As of August&nbsp;31, the company had 155 showrooms globally for EVs and 180 showrooms and service workshops for e-scooters, including VinFast showrooms and dealer showrooms.
The company made a strategic decision to adjust the operational timeline for the North Carolina plant to 2028 to allow VinFast to optimize resources to focus on achieving near-term growth targets.
&#8220;With the delivery of VF 3 starting in Q3, we have completed the development of all 7 e-SUV models, besides a comprehensive portfolio of 9 e-scooters, e-bus and e-bike,&#8221; Le added.
The company held cash and equivalents&nbsp;of $98.2 million as of June.
Outlook: The company reaffirmed its FY2024 target to<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> deliver 80,000 electric vehicles (EVs).</a>
Lan Anh Nguyen, Chief Financial Officer of VinFast, said, &#8220;One key driver for us in Q2 growth was the increased reception of customers for VinFast's EVs in Vietnam. This growth in our home market has been crucial in advancing our mission to promote EV adoption and green mobility&#8230;At the same time, we continue to focus on cost optimization and stringent capital allocation while maintaining a level of flexibility in our capex plans and continuing to grow our top line.&#8221;
Price Action: VFS shares are trading lower by 3.79% to $3.81 at last check Friday.
Image via Shutterstock
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Earnings

Equities

Guidance

Markets

Movers

General

VinFast Hits Roadblock: Fails To Meet Q2 Earnings And Sales Expectations, Cautions On Challenging Macro EV Outlook

New clinical efficacy and safety data for arimoclomol as a possible treatment for Niemann-Pick disease type C, including from long-term and real-world settings, demonstrate clinically meaningful reduction in disease progression &nbsp;
Arimoclomol was well tolerated during the Open Label Extension trial and Early Access Program with no safety signals identified
PK modeling studies showed that administration of OLPRUVA while fasting vs fed results in higher drug exposure which may allow for lower effective dosages when taken without food

ZVRA

Zevra Therapeutics Presents New Data For Arimoclomol, OLPRUVA At SSIEM 2024 Symposium

WIIM

SPDR Dow Jones Industrial Average ETF Trust

Major indexes are trading lower following recent strength. Worse-than-expected Q1 financial results and weak guidance from FedEx may have also weighed on stocks.

Piper Sandler analyst Paul Newsome maintains Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) with a Neutral and raises the price target from $254 to $293.

Piper Sandler Maintains Neutral on Arthur J. Gallagher, Raises Price Target to $293

Piper Sandler analyst Brian Mullan maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Neutral and raises the price target from $159 to $177.

Piper Sandler Maintains Neutral on Darden Restaurants, Raises Price Target to $177

CAPNU

Trading Halt: Halt status updated at 10:10:00 AM ET: Quotation Resumption: IPO Security - Released for Quotation

Barclays analyst Jeffrey Bernstein maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Overweight and raises the price target from $180 to $192.

Barclays Maintains Overweight on Darden Restaurants, Raises Price Target to $192

Piper Sandler analyst Ryan Todd maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Neutral and lowers the price target from $168 to $145.

Piper Sandler Maintains Neutral on Marathon Petroleum, Lowers Price Target to $145

Cantor Fitzgerald analyst Kristen Kluska reiterates Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) with a Neutral and maintains $152 price target.

SRPT

Cantor Fitzgerald Reiterates Neutral on Sarepta Therapeutics, Maintains $152 Price Target

Canadian medical cannabis giant Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ACB#TSX">ACB</a>) announced on Friday the appointments of CEO Miguel Martin to the additional role of executive chairman and outgoing chairman Ron Funk as lead independent director.
Both are backed by unanimous votes by the company's board of director and are effective immediately.
Martin has led Aurora as CEO and a director since 2020, driving the company&#8217;s financial recovery and successful business transformation.
Why It Matters: The board said combining the CEO and chairman roles will "promote strong and consistent leadership, directional clarity, and effective and efficient decision making — all of which better position Aurora to execute on its vision for global leadership."
&#8220;I am excited to take on this expanded role and equally thrilled that we will have the ongoing benefit of Ron&#8217;s extensive business experience, deep institutional knowledge and meticulous Board leadership and governance expertise as Lead Independent Director,&#8221; Martin said.
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
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Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40512437/aurora-cannabis-dominates-30-of-canadas-medical-marijuana-exports-will-its-bold-int">Aurora Cannabis Dominates 30% Of Canada&#8217;s Medical Marijuana Exports: Will Its Bold International Expansion Pay Off?</a>
What's Next: Martin's expanded role allows him to lead in setting the board agenda. As lead independent director, Funk will continue to focus on ensuring the board functions effectively and independently of the company&#8217;s management.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20093254/ccc-oct-24-banner__1_-31.gif" alt="" class="wp-image-558446" /></a></figure>
<h1 class="wp-block-heading">Changes To Board Committee Compositions And Recent Moves</h1>
Michael Singer, who previously acted as executive chairman and interim CEO, was appointed to the Audit Committee and the Human Resource and Compensation Committee. Rajesh Uttamchandani was appointed to the HRCC and the Nominating and Corporate Governance Committee.
In the meantime, the company was working on innovating its operations via research in auto-flowering technology. Aurora received a U.S. Patent 12,002,546, "Methods of Determining Sensitivity to Photoperiod in Cannabis," allowing for its breeding program to identify and select for the auto-flowering trait.
The company said on Tuesday the innovative work provides foundational insight into the flowering mechanism in cannabis. The research would support future breeding strategies. It also could be utilized to advance outdoor cannabis cultivation in high-latitude regions, such as Canada.
ACG Price Action: Aurora's shares traded 0.87% lower at $5.72 per share Friday morning at publication.
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</ul>

Cannabis

Entrepreneurship

Management

TSX:ACB

Aurora Cannabis CEO Takes On Dual Role: Here's What's Behind The Leadership Change

Europe&rsquo;s biggest automaker, Volkswagen (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) is considering plant closures for the first time in its 87-year-old history. But Volkswagen is merely a reflection of a struggling European auto industry that is currently challenged on many fronts, with its struggles being both the global competition and its declining appeal.&nbsp;
Europe&rsquo;s automotive industry is struggling with many issues simultaneously.&nbsp;
According to&nbsp;Bloomberg Intelligence, one in three European factories of carmaking behemoths, namely Volkswagen, Bayerische Motoren Werke Aktiengesellschaft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>), Mercedes-Benz Group AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgaf#OTC">MBGAF</a>)(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgyy#OTC">MBGYY</a>), Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) and Renault (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rnlsy#OTC">RNLSY</a>) is underutilized.&nbsp;Meanwhile, Chinese automakers such as BYD (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) are off to conquer Europe. To avoid tarrifs on China-made EVs, they are planning to make their own factories on the European continent.&nbsp;
Volkswagen is only one of the first victims.
Volkswagen Group CEO Oliver Blume&nbsp;openly spoke of the serious situation that Europe&rsquo;s automotive industry is facing with Germany in particular falling from grace as a competitive manufacturing location. Volkswagen has also fallen from grace in China, its single biggest market. During the first half of 2024, Volkswagen&rsquo;s deliveries in China dropped 7%&nbsp;YoY with group operating profit tumbling 11.4%&nbsp;to $11.2 billion. Volkswagen is losing out to local brands in China like BYD and those brands are now going for its home market.&nbsp;&nbsp;
Stellantis has also been hit by slowing demand in Europe.
In Italy, Stellantis is hitting the brakes. In response to the sales crisis, Stellantis halted production of its electric Fiat 500e for a month at its Mirafiori facility that is located near Turin. Stellantis also revealed that the site will be undergoing a significant transformation that will involve an investment worth&nbsp;&euro;100 million. Stellantis is expected to start making a hybrid version of the Fiat 500&nbsp;sometimes next year.&nbsp;
In addition to its European struggles, Stellantis is also facing a shrinking share in North America. During the first half of 2024, net revenues dropped 14% YoY while net profit took a 48% YoY plunge.
With Chinese EV makers navigating new roads, determined to conquer the world, simple cost-cutting measures won&rsquo;t do.&nbsp;
European automakers are having a hard time keeping up with Chinese EV makers. The increased tariffs that the EU imposed on Chinese EV makers led to significant backlash and concerns that this will make it more difficult for the EU to achieve its net-zero goals as Chinese EVs are more popular with consumers, both due to their more favorable pricing and greater features. Moreover, tarrifs are seen as&nbsp;a minor speed bump for an EV powerhouse like BYD.&nbsp;Regardless of their legacy, European automakers who fail to adapt quickly enough will be left on the sidelines as Chinese EV makers like BYD threaten to leave them in the dust.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Eurozone

BMWYY

BYDDY

MERCEDES BENZ GROUP AG by Mercedes Benz Group AG

MBGAF

MERCEDES-BENZ UNSP / ADR by Mercedes Benz Group AG

MBGYY

RNLSY

STLA

VWAGY

Volkswagen's Crisis Is The Reflection Of Europe's Automotive Struggles

Cantor Fitzgerald analyst Louise Chen reiterates Oncolytics Biotech (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ONC#TSX">ONC</a>) with a Overweight.

TSX:ONC

Cantor Fitzgerald Reiterates Overweight on Oncolytics Biotech

Piper Sandler analyst Ryan Todd maintains Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) with a Overweight and lowers the price target from $151 to $136.

Piper Sandler Maintains Overweight on Phillips 66, Lowers Price Target to $136

UBS analyst Ross Fowler maintains Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) with a Neutral and raises the price target from $66 to $67.

UBS Maintains Neutral on Xcel Energy, Raises Price Target to $67

UBS analyst Daniel Ford maintains Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) with a Neutral and raises the price target from $90 to $91.

UBS Maintains Neutral on Southern, Raises Price Target to $91

Northrim BanCorp: Still Marginally Attractive Despite Some Weak Spots

Third Coast Bancshares: Lack Of Differentiation Is Hurting The Bottom Line

Third Coast Bancshares GAAP EPS of $0.63 beats by $0.06, revenue of $41.74M beats by $0.61M

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Third Coast Bancshares (NASDAQ:<a href="https://investorplace.com/stock-quotes/tcbx-stock-quote/">TCBX</a>) just reported results for the second quarter of 2024.<ul><li>Third Coast Bancshares reported earnings per share of 63 cents. This was above the analyst estimate for EPS of 57 cents.</li><li>The company reported revenue of $41.75 million.</li><li>This was 1.50% better than the analyst estimate for revenue of $41.13 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/tcbx-stock-earnings-third-coast-bancshares-for-q2-of-2024/">TCBX Stock Earnings: Third Coast Bancshares Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

TCBX Stock Earnings: Third Coast Bancshares Beats EPS, Beats Revenue for Q2 2024

In a report released yesterday, Wood Lay from KBW maintained a Buy rating on Third Coast Bancshares (TCBX – Research Report), with a price target o...

KBW Reaffirms Their Buy Rating on Third Coast Bancshares (TCBX)

Third Coast Bancshares, Inc. (TCBX) Q2 2024 Earnings Call Transcript

In a report released today, Wood Lay from KBW maintained a Buy rating on Third Coast Bancshares (TCBX – Research Report), with a price target of $2...

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Third Coast Bancshares

Third Coast Bancshares (TCBX) Forecast

Third Coast Bancshares (NASDAQ:TCBX) Stock, Quote.Headers.trade-ideas