Renaissance Technologies LLC Buys 32,087 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Renaissance Technologies LLC boosted its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,300 shares of the company's stock after acquiring an additional 32,087 shares during the quarter. Renaissance Technologies LLC owned 0.81% of Third Coast Bancshares worth $3,779,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in Third Coast Bancshares by 295.9% during the fourth quarter. Russell Investments Group Ltd. now owns 17,545 shares of the company's stock valued at $596,000 after purchasing an additional 13,113 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Third Coast Bancshares in the fourth quarter valued at $268,000. Wells Fargo & Company MN grew its stake in shares of Third Coast Bancshares by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,660 shares of the company's stock worth $226,000 after buying an additional 1,451 shares in the last quarter. Trexquant Investment LP increased its stake in Third Coast Bancshares by 162.8% during the fourth quarter. Trexquant Investment LP now owns 36,343 shares of the company's stock worth $1,234,000 after acquiring an additional 22,512 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Third Coast Bancshares during the 4th quarter valued at approximately $642,000. Institutional investors own 36.88% of the company's stock.

Analyst Upgrades and Downgrades

TCBX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James lowered shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Stephens restated an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a research note on Thursday, January 23rd.

Third Coast Bancshares Stock Performance

Shares of TCBX stock opened at $30.20 on Wednesday. The firm has a market capitalization of $416.43 million, a price-to-earnings ratio of 10.90 and a beta of 0.40. Third Coast Bancshares, Inc. has a fifty-two week low of $18.82 and a fifty-two week high of $39.45. The stock's 50-day simple moving average is $32.55 and its 200-day simple moving average is $33.28.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. As a group, equities analysts forecast that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Insider Buying and Selling

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 bought at an average cost of $32.35 per share, with a total value of $64,700.00. Following the completion of the acquisition, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares Company Profile

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.

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