JPMorgan Chase & Co. Has $1.91 Million Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

JPMorgan Chase & Co. grew its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 140.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,145 shares of the company's stock after purchasing an additional 32,795 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Third Coast Bancshares worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TCBX. SG Americas Securities LLC grew its holdings in shares of Third Coast Bancshares by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock valued at $171,000 after buying an additional 760 shares during the period. Picton Mahoney Asset Management acquired a new position in Third Coast Bancshares in the fourth quarter valued at about $27,000. Charles Schwab Investment Management Inc. grew its stake in Third Coast Bancshares by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock valued at $1,158,000 after acquiring an additional 942 shares during the period. R Squared Ltd bought a new stake in shares of Third Coast Bancshares in the fourth quarter worth about $40,000. Finally, Empowered Funds LLC raised its position in shares of Third Coast Bancshares by 5.0% during the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock worth $1,007,000 after purchasing an additional 1,406 shares during the period. 36.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora purchased 2,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $32.35 per share, for a total transaction 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. This trade represents a 5.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.20% of the company's stock.

Third Coast Bancshares Stock Down 2.9 %

Shares of NASDAQ:TCBX traded down $0.84 during mid-day trading on Friday, reaching $28.24. 95,231 shares of the stock were exchanged, compared to its average volume of 60,421. The stock's 50 day simple moving average is $32.04 and its 200-day simple moving average is $33.41. Third Coast Bancshares, Inc. has a one year low of $18.82 and a one year high of $39.45. The company has a market cap of $390.42 million, a P/E ratio of 10.19 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. The company had revenue of $45.90 million during the quarter, compared to analysts' expectations of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. Analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TCBX has been the subject of several research analyst reports. Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Stephens reduced their price target on shares of Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating for the company in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating for the company in a research report on Friday.

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.