Third Coast Bancshares, Inc. (NASDAQ:TCBX) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 155.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,305 shares of the company's stock after acquiring an additional 49,461 shares during the quarter. Nuveen Asset Management LLC owned about 0.59% of Third Coast Bancshares worth $2,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new position in Third Coast Bancshares in the fourth quarter worth about $3,040,000. Millennium Management LLC boosted its holdings in Third Coast Bancshares by 432.3% during the 4th quarter. Millennium Management LLC now owns 94,312 shares of the company's stock valued at $3,202,000 after acquiring an additional 76,594 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Third Coast Bancshares by 22.8% in the 4th quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock worth $13,871,000 after buying an additional 75,964 shares during the period. American Century Companies Inc. raised its position in shares of Third Coast Bancshares by 82.6% in the 4th quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock worth $4,813,000 after acquiring an additional 64,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 period. 36.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their target price on 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, Stephens dropped 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.

Third Coast Bancshares Trading Down 2.3%

NASDAQ:TCBX traded down $0.71 during midday trading on Wednesday, reaching $30.60. The company had a trading volume of 41,230 shares, compared to its average volume of 63,326. The firm has a market capitalization of $423.29 million, a price-to-earnings ratio of 11.05 and a beta of 0.42. The stock's fifty day simple moving average is $30.24 and its 200-day simple moving average is $33.29. Third Coast Bancshares, Inc. has a 12-month low of $18.82 and a 12-month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.08. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $46.02 million. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. As a group, sell-side analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity at Third Coast Bancshares

In related news, insider William Bobbora bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the acquisition, the insider now owns 41,639 shares in the company, valued at approximately $1,347,021.65. This trade represents a 5.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 4,470 shares of company stock worth $135,204. Company insiders own 10.28% of the company's stock.

About Third Coast Bancshares

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.