Alliancebernstein L.P. Grows Stock Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Alliancebernstein L.P. raised its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 408,561 shares of the company's stock after purchasing an additional 75,964 shares during the quarter. Alliancebernstein L.P. owned 2.99% of Third Coast Bancshares worth $13,871,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Third Coast Bancshares during the fourth quarter valued at $27,000. R Squared Ltd purchased a new position in shares of Third Coast Bancshares in the 4th quarter valued at about $40,000. US Bancorp DE purchased a new stake in shares of Third Coast Bancshares in the fourth quarter valued at approximately $73,000. Public Employees Retirement System of Ohio lifted its position in shares of Third Coast Bancshares by 150.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock valued at $109,000 after buying an additional 2,454 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Third Coast Bancshares by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after acquiring an additional 760 shares in the last quarter. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Stock Up 1.6 %

NASDAQ:TCBX traded up $0.44 during trading hours on Monday, reaching $27.97. 9,949 shares of the stock were exchanged, compared to its average volume of 58,711. Third Coast Bancshares, Inc. has a twelve month low of $18.00 and a twelve month high of $39.45. The business has a 50-day moving average of $33.81 and a two-hundred day moving average of $33.18. The company has a market capitalization of $385.68 million, a price-to-earnings ratio of 10.10 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, research analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TCBX. Keefe, Bruyette & Woods lowered shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, Stephens reissued an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a research note on Thursday, January 23rd.

Insider Activity

In other news, insider William Bobbora purchased 2,000 shares of the business's stock in a transaction dated 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 purchase, the insider now directly owns 41,639 shares of the company's stock, valued at $1,347,021.65. This represents a 5.05 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.20% of the company's stock.

Third Coast Bancshares Company Profile

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.