Annex Advisory Services LLC Acquires New Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Annex Advisory Services LLC purchased a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 52,514 shares of the company's stock, valued at approximately $1,752,000. Annex Advisory Services LLC owned approximately 0.38% of Third Coast Bancshares as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TCBX. Picton Mahoney Asset Management purchased a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Third Coast Bancshares during the fourth quarter valued at about $28,000. US Bancorp DE purchased a new stake in shares of Third Coast Bancshares during the fourth quarter worth about $73,000. SG Americas Securities LLC increased 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 shares of Third Coast Bancshares in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 36.88% of the company's stock.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora purchased 2,400 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were acquired 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 in the company, valued at approximately $263,717.50. This trade represents a 35.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 4,470 shares of company stock worth $135,204 over the last 90 days. Insiders own 10.28% of the company's stock.

Third Coast Bancshares Price Performance

NASDAQ:TCBX traded up $0.05 during mid-day trading on Monday, reaching $31.07. The stock had a trading volume of 34,723 shares, compared to its average volume of 63,729. The company has a market capitalization of $429.79 million, a price-to-earnings ratio of 11.22 and a beta of 0.39. Third Coast Bancshares, Inc. has a 1-year low of $18.82 and a 1-year high of $39.45. The stock's 50 day simple moving average is $30.09 and its two-hundred day simple moving average is $33.17.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on TCBX shares. Keefe, Bruyette & Woods lowered their price objective 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. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Stephens dropped their price target on shares of 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.

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.