Arrowstreet Capital Limited Partnership Makes New $3.04 Million Investment in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 89,541 shares of the company's stock, valued at approximately $3,040,000. Arrowstreet Capital Limited Partnership owned 0.65% of Third Coast Bancshares at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Third Coast Bancshares by 82.6% during the 4th quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock valued at $4,813,000 after acquiring an additional 64,148 shares during the period. Wellington Management Group LLP acquired a new position in shares of Third Coast Bancshares during the 3rd quarter worth $1,443,000. Prudential Financial Inc. bought a new stake in shares of Third Coast Bancshares during the 4th quarter worth $1,492,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 buying an additional 41,876 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Third Coast Bancshares by 140.4% in the fourth quarter. JPMorgan Chase & Co. now owns 56,145 shares of the company's stock valued at $1,906,000 after acquiring an additional 32,795 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company's stock.

Third Coast Bancshares Stock Up 3.3 %

NASDAQ TCBX traded up $0.94 on Tuesday, hitting $28.98. The company's stock had a trading volume of 13,648 shares, compared to its average volume of 58,743. The company's 50-day moving average is $33.61 and its 200 day moving average is $33.19. The firm has a market cap of $399.59 million, a PE ratio of 10.46 and a beta of 0.40. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.45.

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, equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity

In related news, insider William Bobbora acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost 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 in the company, valued at $1,347,021.65. The trade was a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TCBX shares. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Stephens reissued an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $40.00 to $42.00 in a report on Wednesday, January 29th.

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.