William Bobbora Buys 2,000 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX - Get Free Report) insider William Bobbora acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were 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 in the company, valued at $1,347,021.65. This represents a 5.05 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Third Coast Bancshares Price Performance

NASDAQ TCBX traded up $0.32 during trading on Tuesday, reaching $33.19. The company's stock had a trading volume of 12,182 shares, compared to its average volume of 52,886. The stock has a market capitalization of $457.66 million, a PE ratio of 11.91 and a beta of 0.32. The firm has a fifty day moving average of $34.96 and a 200 day moving average of $32.45. Third Coast Bancshares, Inc. has a one year low of $18.00 and a one year high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 EPS 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%. Research analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Third Coast Bancshares

Several institutional investors have recently modified their holdings of TCBX. Empowered Funds LLC increased its position in shares of Third Coast Bancshares by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 28,253 shares of the company's stock valued at $756,000 after purchasing an additional 1,340 shares during the last quarter. Seizert Capital Partners LLC bought a new position in shares of Third Coast Bancshares during the 3rd quarter valued at about $321,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Third Coast Bancshares by 100.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,199 shares of the company's stock worth $916,000 after acquiring an additional 17,114 shares during the last quarter. Martingale Asset Management L P grew its position in Third Coast Bancshares by 3.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,092 shares of the company's stock worth $913,000 after acquiring an additional 1,101 shares during the last quarter. Finally, Wasatch Advisors LP bought a new position in Third Coast Bancshares during the 3rd quarter worth approximately $6,811,000. 36.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on TCBX shares. Stephens reissued an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd. 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 research note on Wednesday, January 29th. Finally, Raymond James restated an "outperform" rating and issued a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a research note on Friday, January 24th.

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.