Vanguard Group Inc. Has $21.84 Million Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Vanguard Group Inc. lifted its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,219 shares of the company's stock after acquiring an additional 9,395 shares during the quarter. Vanguard Group Inc. owned approximately 4.70% of Third Coast Bancshares worth $21,837,000 as of its most recent SEC filing.

Other large investors 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 approximately $27,000. R Squared Ltd acquired a new position in Third Coast Bancshares in the 4th quarter valued at $40,000. US Bancorp DE bought a new position in Third Coast Bancshares during the 4th quarter worth $73,000. Public Employees Retirement System of Ohio lifted its holdings 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 worth $109,000 after buying an additional 2,454 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock valued at $171,000 after acquiring an additional 760 shares during the period. 36.88% of the stock is owned by institutional investors.

Insider Activity

In other news, insider William Bobbora bought 2,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the acquisition, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.20% of the company's stock.

Third Coast Bancshares Stock Up 1.3 %

Shares of TCBX stock traded up $0.38 during trading hours on Friday, hitting $29.15. 58,166 shares of the company's stock traded hands, compared to its average volume of 59,350. The stock has a market cap of $401.95 million, a PE ratio of 10.52 and a beta of 0.40. Third Coast Bancshares, Inc. has a 12 month low of $18.26 and a 12 month high of $39.45. The stock's 50 day simple moving average is $33.06 and its 200 day simple moving average is $33.15.

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 analysts' consensus estimates 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 research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.