Martingale Asset Management L P Boosts Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Martingale Asset Management L P increased its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,509 shares of the company's stock after purchasing an additional 9,417 shares during the quarter. Martingale Asset Management L P owned 0.32% of Third Coast Bancshares worth $1,477,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts have 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 research report on Thursday, January 23rd. Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, January 29th.

Third Coast Bancshares Stock Performance

Shares of NASDAQ:TCBX traded up $0.39 during midday trading on Thursday, reaching $29.16. 14,654 shares of the company's stock traded hands, compared to its average volume of 59,002. The company has a market cap of $402.09 million, a price-to-earnings ratio of 10.49 and a beta of 0.40. The stock has a 50 day moving average of $33.22 and a 200 day moving average of $33.13. Third Coast Bancshares, Inc. has a one year low of $18.03 and a one year high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released its quarterly earnings results 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 net margin of 14.06% and a return on equity of 10.93%. Sell-side analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora purchased 2,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

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.