Dimensional Fund Advisors LP Buys 62,019 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Dimensional Fund Advisors LP increased its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,411 shares of the company's stock after buying an additional 62,019 shares during the period. Dimensional Fund Advisors LP owned 2.15% of Third Coast Bancshares worth $9,996,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Third Coast Bancshares during the fourth quarter valued at about $3,040,000. Alliancebernstein L.P. grew its holdings in shares of Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock valued at $13,871,000 after acquiring an additional 75,964 shares in the last quarter. American Century Companies Inc. increased its position in shares of Third Coast Bancshares by 82.6% during the 4th quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock valued at $4,813,000 after purchasing an additional 64,148 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Third Coast Bancshares in the 4th quarter worth about $1,492,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Third Coast Bancshares by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company's stock worth $2,583,000 after acquiring an additional 41,876 shares during the period. Institutional investors and hedge funds own 36.88% of the company's stock.

Wall Street Analysts Forecast Growth

TCBX has been the topic of a number of recent research reports. Stephens dropped their price target 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. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th.

Insider Transactions at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 2,400 shares of Third Coast Bancshares stock in a transaction on Monday, April 28th. The shares were acquired at an average cost of $28.51 per share, for a total transaction of $68,424.00. Following the completion of the transaction, the insider now directly owns 9,250 shares of the company's stock, valued at approximately $263,717.50. The trade was a 35.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders bought 4,470 shares of company stock worth $135,204. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares Trading Up 0.6 %

Shares of NASDAQ TCBX opened at $30.97 on Friday. The business has a 50-day moving average of $30.90 and a 200-day moving average of $33.53. The firm has a market capitalization of $428.41 million, a price-to-earnings ratio of 11.18 and a beta of 0.42. 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 issued its quarterly 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. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.02 million. On average, analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Third Coast Bancshares Company Profile

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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