Cubist Systematic Strategies LLC Purchases New Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Cubist Systematic Strategies LLC bought a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,922 shares of the company's stock, valued at approximately $507,000. Cubist Systematic Strategies LLC owned about 0.11% of Third Coast Bancshares at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TCBX. Picton Mahoney Asset Management purchased a new position in Third Coast Bancshares in the 4th quarter worth approximately $27,000. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares in the fourth quarter valued at $40,000. US Bancorp DE bought a new stake in shares of Third Coast Bancshares during the 4th quarter worth approximately $73,000. SG Americas Securities LLC raised its stake 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 worth $171,000 after buying an additional 760 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Third Coast Bancshares during the 4th quarter worth approximately $203,000. 36.88% of the stock is owned by institutional investors.

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora acquired 2,400 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were purchased at an average price of $28.51 per share, with a total value of $68,424.00. Following the completion of the transaction, the insider now owns 9,250 shares in the company, valued at $263,717.50. The trade was a 35.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 4,470 shares of company stock worth $135,204 in the last 90 days. Corporate insiders own 10.28% of the company's stock.

Third Coast Bancshares Stock Performance

Third Coast Bancshares stock traded down $0.55 during mid-day trading on Wednesday, reaching $31.18. 3,886 shares of the company were exchanged, compared to its average volume of 72,639. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve month high of $39.44. The firm has a market cap of $431.30 million, a PE ratio of 11.26 and a beta of 0.42. The firm's 50-day simple moving average is $30.77 and its two-hundred day simple moving average is $33.52.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.70 by $0.08. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. The business had revenue of $45.90 million for the quarter, compared to the consensus estimate of $46.02 million. As a group, equities research analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stephens dropped their price target on 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. Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price target 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.

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.