Inscription Capital LLC acquired a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,297 shares of the company's stock, valued at approximately $1,678,000. Inscription Capital LLC owned about 0.36% of Third Coast Bancshares as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Third Coast Bancshares by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,502 shares of the company's stock valued at $221,000 after purchasing an additional 304 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Third Coast Bancshares during the 4th quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $28,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Third Coast Bancshares by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock valued at $1,158,000 after acquiring an additional 942 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Third Coast Bancshares by 5.0% during the 4th quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock valued at $1,007,000 after acquiring an additional 1,406 shares during the last quarter. 36.88% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Third Coast Bancshares
In other Third Coast Bancshares news, insider William Bobbora acquired 2,400 shares of the stock in a transaction dated Monday, April 28th. The shares were purchased at an average price of $28.51 per share, for a total transaction of $68,424.00. Following the purchase, the insider now directly owns 9,250 shares of the company's stock, valued at approximately $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.28% of the company's stock.
Third Coast Bancshares Stock Up 1.2%
Shares of NASDAQ TCBX traded up $0.35 during trading on Thursday, reaching $30.04. 97,916 shares of the company traded hands, compared to its average volume of 64,892. The firm has a 50 day simple moving average of $30.36 and a 200-day simple moving average of $32.88. The stock has a market capitalization of $415.45 million, a PE ratio of 10.22 and a beta of 0.39. 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 issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. Third Coast Bancshares had a net margin of 14.90% and a return on equity of 11.15%. The firm had revenue of $45.90 million for the quarter, compared to analysts' expectations of $46.02 million. As a group, research analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.
Third Coast Bancshares declared that its Board of Directors has authorized a stock buyback program on Tuesday, June 17th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TCBX. Raymond James Financial downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. 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 report on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating on the stock in a report on Friday, April 25th.
Read Our Latest Stock Report on TCBX
About Third Coast Bancshares
(
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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