EAM Investors LLC Buys Shares of 26,619 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

EAM Investors LLC purchased a new stake in 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 purchased 26,619 shares of the company's stock, valued at approximately $904,000. EAM Investors LLC owned approximately 0.19% of Third Coast Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Third Coast Bancshares by 6.8% during the 3rd quarter. State Street Corp now owns 218,514 shares of the company's stock worth $5,850,000 after acquiring an additional 13,948 shares during the last quarter. Wellington Management Group LLP acquired a new position in Third Coast Bancshares during the third quarter worth $1,443,000. Public Employees Retirement System of Ohio grew its position 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 purchasing an additional 2,454 shares in the last quarter. Barclays PLC lifted its position in Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company's stock worth $426,000 after buying an additional 11,437 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Third Coast Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company's stock worth $7,363,000 after buying an additional 3,373 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora acquired 2,000 shares of the business's 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 transaction, the insider now directly owns 41,639 shares of the company's stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.20% of the company's stock.

Third Coast Bancshares Stock Up 2.4 %

Shares of NASDAQ TCBX traded up $0.70 during mid-day trading on Tuesday, reaching $29.48. 18,610 shares of the company were exchanged, compared to its average volume of 59,232. The company's 50-day simple moving average is $32.71 and its 200-day simple moving average is $33.30. The stock has a market capitalization of $406.54 million, a P/E ratio of 10.68 and a beta of 0.40. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve 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, beating analysts' consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, equities research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TCBX. Keefe, Bruyette & Woods lowered 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. 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 issued a $42.00 price objective on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.

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.