12,213 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,213 shares of the company's stock, valued at approximately $415,000. BNP Paribas Financial Markets owned about 0.09% of Third Coast Bancshares as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in Third Coast Bancshares during the 4th quarter valued at about $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares during the 4th quarter valued at approximately $40,000. US Bancorp DE purchased a new position in Third Coast Bancshares during the 4th quarter valued at approximately $73,000. SG Americas Securities LLC grew its stake in shares of Third Coast Bancshares by 17.7% in 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. Finally, Walleye Capital LLC purchased a new position in Third Coast Bancshares during the fourth quarter worth $203,000. Hedge funds and other institutional investors own 36.88% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on TCBX. Raymond James cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Finally, Stephens lowered their price target on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating for the company in a research report on Friday, April 25th.

Third Coast Bancshares Trading Down 0.1%

NASDAQ:TCBX traded down $0.04 during midday trading on Friday, hitting $31.01. 1,403 shares of the stock were exchanged, compared to its average volume of 62,807. Third Coast Bancshares, Inc. has a one year low of $18.82 and a one year high of $39.45. The business has a 50-day moving average price of $30.44 and a two-hundred day moving average price of $33.38. The company has a market capitalization of $428.89 million, a price-to-earnings ratio of 11.19 and a beta of 0.42.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released 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. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates 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 forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Insider Activity

In other news, insider William Bobbora purchased 2,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $32.35 per share, with a total value of $64,700.00. Following the purchase, the insider now directly owns 41,639 shares of the company's stock, valued at $1,347,021.65. This trade represents a 5.05% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 4,470 shares of company stock worth $135,204. Corporate insiders own 10.28% of the company's stock.

Third Coast Bancshares 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.