1492 Capital Management LLC Buys Shares of 35,779 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

1492 Capital Management LLC acquired a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 35,779 shares of the company's stock, valued at approximately $1,215,000. 1492 Capital Management LLC owned approximately 0.26% of Third Coast Bancshares at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TCBX. Vanguard Group Inc. grew its stake in shares of Third Coast Bancshares by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 643,219 shares of the company's stock valued at $21,837,000 after buying an additional 9,395 shares during the period. Alliancebernstein L.P. lifted its position in Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock valued at $13,871,000 after buying an additional 75,964 shares during the last quarter. Geode Capital Management LLC lifted its stake in Third Coast Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company's stock worth $7,363,000 after purchasing an additional 3,373 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Third Coast Bancshares by 3.5% during the 4th quarter. Wasatch Advisors LP now owns 263,262 shares of the company's stock valued at $8,938,000 after acquiring an additional 8,854 shares during the period. Finally, State Street Corp boosted its holdings in Third Coast Bancshares by 6.8% in the third quarter. State Street Corp now owns 218,514 shares of the company's stock valued at $5,850,000 after purchasing an additional 13,948 shares during the period. Hedge funds and other institutional investors own 36.88% of the company's stock.

Analyst Upgrades and Downgrades

TCBX has been the subject of a number of analyst reports. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Finally, Stephens reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a report on Thursday, January 23rd.

Insiders Place Their Bets

In related news, insider William Bobbora acquired 2,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were bought at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is owned by insiders.

Third Coast Bancshares Trading Up 1.0 %

TCBX traded up $0.30 during midday trading on Wednesday, hitting $30.50. The company's stock had a trading volume of 14,220 shares, compared to its average volume of 59,449. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45. The firm has a 50-day moving average price of $32.55 and a two-hundred day moving average price of $33.28. The firm has a market cap of $420.56 million, a P/E ratio of 11.01 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. On average, equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

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.