BNP Paribas Financial Markets bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,213 shares of the company's stock, valued at approximately $415,000. BNP Paribas Financial Markets owned 0.09% of Third Coast Bancshares as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of TCBX. Vanguard Group Inc. raised its position in Third Coast Bancshares by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 643,219 shares of the company's stock valued at $21,837,000 after buying an additional 9,395 shares during the period. Alliancebernstein L.P. raised its position in Third Coast Bancshares by 22.8% during the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock valued at $13,871,000 after buying an additional 75,964 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Third Coast Bancshares by 13.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 335,288 shares of the company's stock valued at $11,383,000 after buying an additional 40,114 shares during the period. Dimensional Fund Advisors LP raised its position in Third Coast Bancshares by 26.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company's stock valued at $9,996,000 after buying an additional 62,019 shares during the period. Finally, Wasatch Advisors LP grew its stake in Third Coast Bancshares by 3.5% in the fourth quarter. Wasatch Advisors LP now owns 263,262 shares of the company's stock valued at $8,938,000 after purchasing an additional 8,854 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.
Third Coast Bancshares Stock Performance
Shares of TCBX traded up $0.09 during trading hours on Thursday, hitting $31.07. 17,560 shares of the company were exchanged, compared to its average volume of 62,846. The company has a market cap of $429.79 million, a PE ratio of 11.20 and a beta of 0.42. The firm's 50 day moving average is $30.50 and its 200-day moving average is $33.41. Third Coast Bancshares, Inc. has a 52 week low of $18.82 and a 52 week 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 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 firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.02 million. As a group, equities analysts forecast that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.
Insider Activity at Third Coast Bancshares
In other news, insider William Bobbora purchased 2,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $32.35 per share, with a total value of $64,700.00. Following the acquisition, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. The trade was a 5.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 4,470 shares of company stock worth $135,204 in the last 90 days. 10.28% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on 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. Stephens lowered their target price 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. Finally, Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd.
Read Our Latest Analysis on TCBX
Third Coast Bancshares 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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