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

Annex Advisory Services LLC purchased a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TCBX. SG Americas Securities LLC lifted its holdings in Third Coast Bancshares by 17.7% during the 4th 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. Empowered Funds LLC increased its position in shares of Third Coast Bancshares by 5.0% during the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock worth $1,007,000 after acquiring an additional 1,406 shares during the period. Guided Capital Wealth Management LLC purchased a new position in Third Coast Bancshares in the fourth quarter valued at $785,000. Legato Capital Management LLC purchased a new position in Third Coast Bancshares in the fourth quarter valued at $232,000. Finally, Bank of New York Mellon Corp grew its stake in Third Coast Bancshares by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 35,182 shares of the company's stock worth $1,194,000 after purchasing an additional 1,779 shares in the last quarter. Institutional investors and hedge funds own 36.88% of the company's stock.

Insider Activity

In other news, insider William Bobbora purchased 2,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the purchase, the insider now directly owns 41,639 shares in the company, valued at $1,347,021.65. The trade was a 5.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 4,470 shares of company stock valued at $135,204. Company insiders own 10.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TCBX shares. Stephens decreased their price objective 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. Keefe, Bruyette & Woods decreased 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 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 report on Wednesday, April 2nd.

Third Coast Bancshares Price Performance

Shares of Third Coast Bancshares stock traded up $0.65 during trading hours on Friday, hitting $31.02. The company had a trading volume of 32,805 shares, compared to its average volume of 63,637. The company's 50-day moving average is $30.09 and its two-hundred day moving average is $33.20. The company has a market cap of $429.10 million, a P/E ratio of 11.20 and a beta of 0.39. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve month high of $39.45.

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 analysts' consensus estimates of $0.70 by $0.08. The business had revenue of $45.90 million during the quarter, compared to analysts' expectations of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. Sell-side analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS 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.