Third Coast Bancshares rises after Piper Sandler starts coverage with 'overweight'

** Shares of Third Coast Bancshares TCBX.N rise 2.3% to $45.4 after Piper Sandler initiates coverage with "overweight" rating

** Brokerage sets a $53 price target, implying about 20% upside to the stock's last close

** Piper Sandler says TCBX's strong growth profile should help drive above-peer earnings growth and share-price performance as industry net interest margins approach cycle highs

** Adds further upside could come from improvements in the deposit base and additional M&A activity that strengthens funding

** Three of five analysts rate stock "strong buy" or "buy" and two "hold"; their median PT is $48 - data compiled by LSEG

** Including session's move, stock up 19.3% YTD