Trexquant Investment LP Increases Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Trexquant Investment LP raised its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 162.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 36,343 shares of the company's stock after acquiring an additional 22,512 shares during the period. Trexquant Investment LP owned approximately 0.27% of Third Coast Bancshares worth $1,234,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in shares of Third Coast Bancshares during the fourth quarter worth about $27,000. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares in the fourth quarter worth approximately $40,000. US Bancorp DE bought a new position in shares of Third Coast Bancshares in the fourth quarter valued at approximately $73,000. Public Employees Retirement System of Ohio boosted its position in shares of Third Coast Bancshares by 150.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock valued at $109,000 after buying an additional 2,454 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after buying an additional 760 shares in the last quarter. Institutional investors own 36.88% of the company's stock.

Insider Transactions at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora acquired 2,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were acquired 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 directly owns 41,639 shares in the company, valued at $1,347,021.65. This trade represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares Stock Up 3.3 %

NASDAQ TCBX traded up $0.94 during trading hours on Tuesday, reaching $28.98. 13,648 shares of the company were exchanged, compared to its average volume of 58,743. The stock has a market capitalization of $399.59 million, a P/E ratio of 10.46 and a beta of 0.40. Third Coast Bancshares, Inc. has a 1 year low of $18.00 and a 1 year high of $39.45. The business's 50 day simple moving average is $33.61 and its 200-day simple moving average is $33.19.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, topping 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, sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on TCBX shares. Stephens reiterated an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research note on Thursday, January 23rd. 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 company from $40.00 to $42.00 in a research note on Wednesday, January 29th. Finally, Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd.

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.