Corton Capital Inc. purchased a new position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,258 shares of the company's stock, valued at approximately $348,000. Corton Capital Inc. owned approximately 0.07% of Third Coast Bancshares as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in 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. raised its holdings in Third Coast Bancshares by 22.8% during 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Third Coast Bancshares by 13.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 335,288 shares of the company's stock worth $11,383,000 after buying an additional 40,114 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Third Coast Bancshares by 26.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company's stock worth $9,996,000 after acquiring an additional 62,019 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of Third Coast Bancshares by 3.5% in 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 in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.
Third Coast Bancshares Price Performance
TCBX opened at $30.22 on Wednesday. The company'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 one year low of $18.82 and a one year high of $39.45. The stock 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 announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. The firm had revenue of $45.90 million during 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, analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Stephens decreased their target price on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, 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.
Read Our Latest Stock Analysis on TCBX
Insider Buying and Selling
In other Third Coast Bancshares news, insider William Bobbora acquired 2,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were acquired at an average price 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 in the company, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 4,470 shares of company stock worth $135,204 over the last ninety days. Company insiders own 10.20% of the company's stock.
Third Coast Bancshares Company Profile
(
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.
Read More
Want to see what other hedge funds are holding TCBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report).
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