Raymond James downgrades Third Coast to "market perform" on growth slowdown

Third Coast Bancshares

02/04/2025 14:38

** Brokerage Raymond James downgrades Texas lender Third Coast Bancshares TCBX.O to "market perform" from "outperform"

** Says co's growth trajectory is poised to slow after significantly outpacing its peers in recent years

** "We believe investor caution around its relatively untested balance sheet/underwriting could weigh on shares if credit comes back into focus," brokerage says

** As of last close, TCBX shares down 3.6% YTD, compared with a 4.2% decline in S&P 500  .SPX index

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))