Numerai GP LLC Invests $566,000 in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Numerai GP LLC acquired a new position 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 Securities and Exchange Commission (SEC). The institutional investor acquired 16,670 shares of the company's stock, valued at approximately $566,000. Numerai GP LLC owned 0.12% of Third Coast Bancshares as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TCBX. Picton Mahoney Asset Management acquired a new stake in Third Coast Bancshares in the fourth quarter valued at approximately $27,000. R Squared Ltd acquired a new position in Third Coast Bancshares in the 4th quarter valued at approximately $40,000. US Bancorp DE acquired a new position in shares of Third Coast Bancshares during the fourth quarter worth $73,000. SG Americas Securities LLC increased its holdings in 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 purchasing an additional 760 shares during the period. Finally, Walleye Capital LLC bought a new position in Third Coast Bancshares during the 4th quarter worth $203,000. 36.88% of the stock is owned by institutional investors.

Insider Activity

In related news, insider William Bobbora purchased 2,400 shares of the firm's stock in a transaction on Monday, April 28th. The shares were acquired at an average cost of $28.51 per share, with a total value of $68,424.00. Following the purchase, the insider now directly owns 9,250 shares of the company's stock, valued at approximately $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have bought 4,470 shares of company stock worth $135,204. 10.20% of the stock is currently owned by insiders.

Third Coast Bancshares Stock Up 0.9%

Third Coast Bancshares stock traded up $0.28 during midday trading on Tuesday, reaching $31.88. The stock had a trading volume of 12,449 shares, compared to its average volume of 62,250. The firm has a market capitalization of $440.93 million, a PE ratio of 11.48 and a beta of 0.42. Third Coast Bancshares, Inc. has a 12 month low of $18.82 and a 12 month high of $39.45. The firm's 50-day moving average price is $30.77 and its 200 day moving average price is $33.53.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.08. The business had revenue of $45.90 million for the quarter, compared to analysts' expectations of $46.02 million. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. Equities research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stephens decreased their price target on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating on the stock in a report on Friday, April 25th.

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.