Marshall Wace LLP purchased a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,558 shares of the company's stock, valued at approximately $1,037,000. Marshall Wace LLP owned 0.22% of Third Coast Bancshares as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCBX. Barclays PLC grew its holdings in shares of Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company's stock worth $426,000 after purchasing an additional 11,437 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 3,373 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Third Coast Bancshares by 131.6% during the third quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company's stock worth $625,000 after buying an additional 13,270 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Third Coast Bancshares by 122.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company's stock valued at $2,583,000 after buying an additional 41,876 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Third Coast Bancshares by 5.0% in the 4th quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock valued at $1,007,000 after buying an additional 1,406 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors.
Third Coast Bancshares Stock Performance
Shares of NASDAQ TCBX traded up $0.27 during mid-day trading on Monday, hitting $30.78. 5,796 shares of the stock were exchanged, compared to its average volume of 61,338. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve month high of $39.45. The stock's fifty day simple moving average is $31.41 and its two-hundred day simple moving average is $33.47. The company has a market cap of $425.46 million, a P/E ratio of 11.11 and a beta of 0.40.
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, beating the consensus estimate of $0.70 by $0.08. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate 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, equities research analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider William Bobbora acquired 2,000 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the transaction, the insider now owns 41,639 shares of the company's stock, valued at $1,347,021.65. The trade was a 5.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 4,470 shares of company stock worth $135,204 in the last 90 days. Corporate insiders own 10.20% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Stephens lowered their target price on shares of Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.
Read Our Latest Stock Analysis on TCBX
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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