1492 Capital Management LLC acquired a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,779 shares of the company's stock, valued at approximately $1,215,000. 1492 Capital Management LLC owned 0.26% of Third Coast Bancshares at the end of the most recent quarter.
A number of other large investors have also modified their holdings of TCBX. Picton Mahoney Asset Management acquired a new stake in Third Coast Bancshares during the fourth quarter worth $27,000. R Squared Ltd bought a new position in shares of Third Coast Bancshares during the 4th quarter worth about $40,000. US Bancorp DE acquired a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $73,000. Public Employees Retirement System of Ohio increased its stake in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock valued at $109,000 after acquiring an additional 2,454 shares during the period. Finally, SG Americas Securities LLC raised its position in Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after purchasing an additional 760 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, January 29th. Stephens reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Third Coast Bancshares in a research note on Thursday, January 23rd. Finally, Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd.
View Our Latest Analysis on Third Coast Bancshares
Third Coast Bancshares Price Performance
NASDAQ TCBX opened at $29.15 on Friday. The stock's 50 day simple moving average is $33.06 and its 200 day simple moving average is $33.15. Third Coast Bancshares, Inc. has a one year low of $18.26 and a one year high of $39.45. The firm has a market cap of $401.95 million, a PE ratio of 10.52 and a beta of 0.40.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. As a group, equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider William Bobbora purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $32.35 per share, with a total value of $64,700.00. Following the completion of the acquisition, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. This trade represents a 5.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.20% of the company's stock.
Third Coast Bancshares Company Profile
(
Free Report)
Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include checking, savings, individual retirement, and money market accounts, as well as certificates of deposit.
Further Reading
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