XTX Topco Ltd acquired a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,082 shares of the company's stock, valued at approximately $648,000. XTX Topco Ltd owned 0.14% of Third Coast Bancshares at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in Third Coast Bancshares during the fourth quarter worth about $27,000. R Squared Ltd acquired a new position in shares of Third Coast Bancshares in the fourth quarter worth $40,000. US Bancorp DE acquired a new position in shares of Third Coast Bancshares in the fourth quarter worth $73,000. Public Employees Retirement System of Ohio grew its stake in shares of Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock worth $109,000 after acquiring an additional 2,454 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake 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 worth $171,000 after acquiring an additional 760 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Third Coast Bancshares Stock Performance
NASDAQ TCBX traded down $0.74 on Thursday, reaching $29.77. The company's stock had a trading volume of 34,893 shares, compared to its average volume of 59,616. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve month high of $39.45. The stock has a market cap of $410.50 million, a PE ratio of 10.64 and a beta of 0.40. The firm's 50 day moving average is $32.40 and its two-hundred day moving average is $33.26.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.08. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $46.02 million. Equities research analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Stephens reissued an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a report on Thursday, January 23rd.
View Our Latest Report on Third Coast Bancshares
Insider Activity at Third Coast Bancshares
In other news, insider William Bobbora bought 2,000 shares of the stock in a transaction dated 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 purchase, the insider now owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 10.20% of the stock is currently owned by insiders.
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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