American Century Companies Inc. Has $4.81 Million Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

American Century Companies Inc. grew its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 82.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,765 shares of the company's stock after buying an additional 64,148 shares during the quarter. American Century Companies Inc. owned 1.04% of Third Coast Bancshares worth $4,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Third Coast Bancshares during the third quarter worth $1,443,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Third Coast Bancshares by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company's stock valued at $2,583,000 after acquiring an additional 41,876 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Third Coast Bancshares in the fourth quarter worth about $797,000. Guided Capital Wealth Management LLC acquired a new stake in shares of Third Coast Bancshares in the 4th quarter valued at approximately $785,000. Finally, State Street Corp grew its holdings in shares of Third Coast Bancshares by 6.8% during the 3rd quarter. State Street Corp now owns 218,514 shares of the company's stock valued at $5,850,000 after purchasing an additional 13,948 shares during the last quarter. Institutional investors own 36.88% of the company's stock.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora bought 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 purchase, the insider now directly owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 10.20% of the stock is currently owned by company insiders.

Third Coast Bancshares Stock Down 6.0 %

Shares of TCBX stock traded down $1.75 during trading hours on Thursday, hitting $27.48. 92,121 shares of the company's stock traded hands, compared to its average volume of 58,334. The stock has a market cap of $378.92 million, a PE ratio of 9.92 and a beta of 0.40. The stock's 50 day simple moving average is $34.00 and its 200 day simple moving average is $33.12. Third Coast Bancshares, Inc. has a 12 month low of $18.00 and a 12 month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (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 research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TCBX has been the topic of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $40.00 to $42.00 in a report on Wednesday, January 29th. Finally, Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.

About Third Coast Bancshares

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.