Third Coast Bancshares, Inc. (NASDAQ:TCBX) Insider Buys $64,700.00 in Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $32.35 per share, with a total value of $64,700.00. Following the completion of the transaction, the insider now directly owns 41,639 shares of the company’s stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Third Coast Bancshares Price Performance

Shares of NASDAQ:TCBX opened at $32.38 on Friday. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.44. The company has a market capitalization of $446.49 million, a P/E ratio of 11.69 and a beta of 0.33. The firm’s 50 day simple moving average is $34.96 and its two-hundred day simple moving average is $32.34.

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

Analyst Ratings Changes

Several brokerages recently issued reports on TCBX. Raymond James restated an “outperform” rating and set a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a research report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $40.00 to $42.00 in a report on Wednesday, January 29th.

Hedge Funds Weigh In On Third Coast Bancshares

Several hedge funds have recently modified their holdings of TCBX. Wasatch Advisors LP purchased a new position in shares of Third Coast Bancshares in the third quarter worth $6,811,000. Arrowstreet Capital Limited Partnership purchased a new stake in Third Coast Bancshares during the fourth quarter valued at $3,040,000. Millennium Management LLC raised its stake in Third Coast Bancshares by 432.3% during the fourth quarter. Millennium Management LLC now owns 94,312 shares of the company’s stock valued at $3,202,000 after purchasing an additional 76,594 shares in the last quarter. Alliancebernstein L.P. raised its stake in Third Coast Bancshares by 22.8% during the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company’s stock valued at $13,871,000 after purchasing an additional 75,964 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Third Coast Bancshares by 82.6% during the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company’s stock valued at $4,813,000 after purchasing an additional 64,148 shares in the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

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.