6,825 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Bought by Legato Capital Management LLC

Legato Capital Management LLC acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,825 shares of the company's stock, valued at approximately $232,000.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Third Coast Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company's stock valued at $7,363,000 after buying an additional 3,373 shares during the period. Wasatch Advisors LP purchased a new stake in Third Coast Bancshares in the 3rd quarter valued at about $6,811,000. State Street Corp boosted its position in Third Coast Bancshares by 6.8% in the 3rd quarter. State Street Corp now owns 218,514 shares of the company's stock valued at $5,850,000 after buying an additional 13,948 shares during the period. Blue Trust Inc. boosted its position in Third Coast Bancshares by 1.8% in the 3rd quarter. Blue Trust Inc. now owns 147,082 shares of the company's stock valued at $3,937,000 after buying an additional 2,632 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Third Coast Bancshares in the 3rd quarter valued at about $1,443,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TCBX shares. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James reaffirmed an "outperform" rating and issued a $39.00 price target (up previously from $34.00) on shares of Third Coast Bancshares in a research report on Friday, January 24th. Finally, Stephens reissued an "overweight" rating and set a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora purchased 1,450 shares of the business's stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now owns 6,050 shares of the company's stock, valued at $213,746.50. This trade represents a 31.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is currently owned by company insiders.

Third Coast Bancshares Price Performance

Third Coast Bancshares stock traded down $0.12 during mid-day trading on Tuesday, reaching $37.94. 42,398 shares of the company traded hands, compared to its average volume of 74,736. Third Coast Bancshares, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $39.06. The company has a market capitalization of $518.95 million, a price-to-earnings ratio of 13.69 and a beta of 0.31. The firm's fifty day moving average is $35.06 and its two-hundred day moving average is $30.81.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly 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 predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

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.