20,012 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL bought a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,012 shares of the company's stock, valued at approximately $679,000. Tudor Investment Corp ET AL owned approximately 0.15% of Third Coast Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new stake in shares of Third Coast Bancshares in the fourth quarter worth $27,000. R Squared Ltd purchased a new position in Third Coast Bancshares in the fourth quarter worth about $40,000. US Bancorp DE bought a new position in shares of Third Coast Bancshares in the fourth quarter worth approximately $73,000. SG Americas Securities LLC increased its position 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 acquiring an additional 760 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Third Coast Bancshares in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 36.88% of the company's stock.

Insiders Place Their Bets

In other news, insider William Bobbora acquired 2,400 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $28.51 per share, for a total transaction of $68,424.00. Following the transaction, 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 through this hyperlink. Insiders bought a total of 4,470 shares of company stock worth $135,204 over the last three months. 10.20% of the stock is currently owned by company insiders.

Third Coast Bancshares Trading Up 0.2%

NASDAQ TCBX traded up $0.05 on Tuesday, hitting $32.11. 8,526 shares of the company traded hands, compared to its average volume of 61,927. The business's 50 day moving average price is $30.86 and its 200-day moving average price is $33.56. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45. The company has a market capitalization of $444.18 million, a price-to-earnings ratio of 11.59 and a beta of 0.42.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.08. The firm 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%. As a group, sell-side analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.