Wasatch Advisors LP lifted its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,262 shares of the company's stock after acquiring an additional 8,854 shares during the period. Wasatch Advisors LP owned approximately 1.92% of Third Coast Bancshares worth $8,938,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in TCBX. SG Americas Securities LLC lifted its holdings in shares of Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock valued at $171,000 after purchasing an additional 760 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Third Coast Bancshares during the 4th quarter valued at about $27,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Third Coast Bancshares by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock valued at $1,158,000 after acquiring an additional 942 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $40,000. Finally, Empowered Funds LLC grew its stake in shares of 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 currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider William Bobbora bought 2,000 shares of the business's stock in a transaction that occurred 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 purchase, the insider now owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. The trade was a 5.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.20% of the company's stock.
Third Coast Bancshares Stock Performance
Shares of NASDAQ TCBX traded up $0.38 during midday trading on Friday, reaching $29.15. The stock had a trading volume of 58,166 shares, compared to its average volume of 59,436. The company has a market capitalization of $401.95 million, a price-to-earnings ratio of 10.52 and a beta of 0.40. Third Coast Bancshares, Inc. has a 12-month low of $18.82 and a 12-month high of $39.45. The stock has a 50-day moving average of $32.88 and a 200-day moving average of $33.22.
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, 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, analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on TCBX shares. Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Stephens reaffirmed an "overweight" rating and set a $42.00 price target on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.
Read Our Latest Research Report on TCBX
About Third Coast Bancshares
(
Free Report)
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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