Raymond James Financial Inc. Makes New $797,000 Investment in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Raymond James Financial Inc. 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 SEC. The institutional investor acquired 23,485 shares of the company's stock, valued at approximately $797,000. Raymond James Financial Inc. owned about 0.17% of Third Coast Bancshares as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TCBX. Barclays PLC increased its holdings in shares of Third Coast Bancshares by 254.6% in the third quarter. Barclays PLC now owns 15,929 shares of the company's stock valued at $426,000 after purchasing an additional 11,437 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Third Coast Bancshares by 131.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company's stock worth $625,000 after acquiring an additional 13,270 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Third Coast Bancshares during the 3rd quarter worth $1,443,000. Finally, State Street Corp boosted its position 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 acquiring an additional 13,948 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th. Stephens restated an "overweight" rating and set a $42.00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.

Insider Buying and Selling 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 bought at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the acquisition, the insider now directly owns 41,639 shares of the company's stock, valued at $1,347,021.65. The trade was a 5.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares Trading Down 6.0 %

TCBX traded down $1.75 on Thursday, hitting $27.48. The company had a trading volume of 92,121 shares, compared to its average volume of 58,334. The company's fifty day moving average price is $34.00 and its 200 day moving average price is $33.12. Third Coast Bancshares, Inc. has a 1 year low of $18.00 and a 1 year high of $39.45. The firm has a market cap of $378.92 million, a P/E ratio of 9.92 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released 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%. On average, 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.