Third Coast Bancshares downgraded at Raymond James on slowing growth

As previously reported, Raymond James analyst Michael Rose downgraded Third Coast Bancshares (TCBX) to Market Perform from Outperform with no price target arguing that the bank’s growth trajectory is poised to slow following significantly above-peer growth in recent years. While the firm acknowledges credit metrics have remained benign in recent history, it believes investor caution around Third Coast’s “relatively untested” balance sheet and underwriting could weigh on shares if credit comes back into focus.