Cubist Systematic Strategies LLC acquired a new position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,922 shares of the company's stock, valued at approximately $507,000. Cubist Systematic Strategies LLC owned approximately 0.11% of Third Coast Bancshares at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TCBX. Bank of America Corp DE grew its position in Third Coast Bancshares by 5.4% during the fourth quarter. Bank of America Corp DE now owns 62,046 shares of the company's stock valued at $2,106,000 after purchasing an additional 3,177 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Third Coast Bancshares during the 4th quarter valued at $415,000. Ameriprise Financial Inc. grew its holdings in shares of Third Coast Bancshares by 24.8% during the 4th quarter. Ameriprise Financial Inc. now owns 73,271 shares of the company's stock valued at $2,488,000 after acquiring an additional 14,560 shares in the last quarter. Algert Global LLC acquired a new position in shares of Third Coast Bancshares in the fourth quarter worth $260,000. Finally, AXA S.A. acquired a new position in shares of Third Coast Bancshares in the fourth quarter worth $912,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.
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 bought at an average price of $28.51 per share, with a total value of $68,424.00. Following the acquisition, the insider now owns 9,250 shares of the company's stock, valued at $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 4,470 shares of company stock worth $135,204 in the last ninety days. Insiders own 10.20% of the company's stock.
Third Coast Bancshares Trading Down 0.6%
NASDAQ:TCBX traded down $0.20 during mid-day trading on Monday, hitting $31.60. 39,423 shares of the company's stock traded hands, compared to its average volume of 62,440. The firm has a market capitalization of $437.12 million, a price-to-earnings ratio of 11.41 and a beta of 0.42. The firm has a 50 day moving average of $30.79 and a two-hundred day moving average of $33.54. Third Coast Bancshares, Inc. has a 12 month low of $18.82 and a 12 month high of $39.45.
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 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 company had revenue of $45.90 million during the quarter, compared to analysts' expectations of $46.02 million. As a group, equities research analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on TCBX. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped 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, Stephens cut their price objective on shares of 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.
Read Our Latest Stock Analysis on Third Coast Bancshares
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.
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