Third Coast Bancshares, Inc. (NASDAQ:TCBX) is Ategra Capital Management LLC's 10th Largest Position

Ategra Capital Management LLC trimmed its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,508 shares of the company's stock after selling 34,589 shares during the period. Third Coast Bancshares makes up 5.3% of Ategra Capital Management LLC's investment portfolio, making the stock its 10th largest holding. Ategra Capital Management LLC owned about 1.71% of Third Coast Bancshares worth $7,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCBX. Picton Mahoney Asset Management acquired a new stake in shares of Third Coast Bancshares during the fourth quarter worth about $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares in the fourth quarter valued at approximately $40,000. US Bancorp DE acquired a new stake in shares of Third Coast Bancshares in the fourth quarter valued at approximately $73,000. SG Americas Securities LLC grew 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 worth $171,000 after acquiring an additional 760 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Third Coast Bancshares in the fourth quarter valued at $203,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider William Bobbora acquired 2,400 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders acquired 4,470 shares of company stock worth $135,204. Insiders own 10.20% of the company's stock.

Analyst Upgrades and Downgrades

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

Third Coast Bancshares Price Performance

Third Coast Bancshares stock traded up $0.09 during mid-day trading on Tuesday, reaching $30.22. The company had a trading volume of 58,093 shares, compared to its average volume of 61,462. The stock's 50-day simple moving average is $31.19 and its 200-day simple moving average is $33.47. Third Coast Bancshares, Inc. has a 1 year low of $18.82 and a 1 year high of $39.45. The company has a market capitalization of $417.79 million, a P/E ratio of 10.91 and a beta of 0.42.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.08. The company had revenue of $45.90 million for 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%. On average, equities analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

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.