Lazard Asset Management LLC Buys Shares of 12,787 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Lazard Asset Management LLC purchased a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,787 shares of the company's stock, valued at approximately $433,000. Lazard Asset Management LLC owned 0.09% of Third Coast Bancshares at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $21,837,000 after acquiring an additional 9,395 shares during the last quarter. Alliancebernstein L.P. grew its position in Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock valued at $13,871,000 after acquiring an additional 75,964 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of 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 worth $11,383,000 after buying an additional 40,114 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Third Coast Bancshares by 26.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company's stock valued at $9,996,000 after purchasing an additional 62,019 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in Third Coast Bancshares by 3.5% during the 4th quarter. Wasatch Advisors LP now owns 263,262 shares of the company's stock worth $8,938,000 after buying an additional 8,854 shares during the period. Institutional investors own 36.88% of the company's stock.

Third Coast Bancshares Stock Down 2.6%

Shares of TCBX stock traded down $0.83 during mid-day trading on Wednesday, reaching $31.10. 5,294 shares of the company's stock traded hands, compared to its average volume of 62,704. Third Coast Bancshares, Inc. has a 12 month low of $18.82 and a 12 month high of $39.45. The company has a market cap of $430.15 million, a P/E ratio of 11.27 and a beta of 0.42. The company's 50-day moving average price is $30.55 and its 200-day moving average price is $33.42.

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 (EPS) for the quarter, topping 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 business had revenue of $45.90 million for the quarter, compared to analysts' expectations of $46.02 million. Equities analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Insider Activity

In related news, insider William Bobbora purchased 2,400 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was purchased at an average price of $28.51 per share, with a total value of $68,424.00. Following the completion of the purchase, the insider now owns 9,250 shares of the company's stock, valued at approximately $263,717.50. The trade was a 35.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 4,470 shares of company stock worth $135,204 over the last 90 days. Corporate insiders own 10.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TCBX. Stephens cut their target price on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Keefe, Bruyette & Woods lowered their target price 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, Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd.

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.