Nuveen Asset Management LLC Purchases 49,461 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Nuveen Asset Management LLC increased its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 155.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of Third Coast Bancshares by 24.8% during the 4th quarter. Ameriprise Financial Inc. now owns 73,271 shares of the company's stock worth $2,488,000 after buying an additional 14,560 shares during the period. BNP Paribas Financial Markets bought a new position in Third Coast Bancshares during the fourth quarter worth $415,000. Millennium Management LLC grew its holdings in Third Coast Bancshares by 432.3% in the fourth quarter. Millennium Management LLC now owns 94,312 shares of the company's stock worth $3,202,000 after purchasing an additional 76,594 shares during the period. Lazard Asset Management LLC bought a new stake in Third Coast Bancshares in the fourth quarter valued at $433,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Third Coast Bancshares by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company's stock valued at $2,583,000 after purchasing an additional 41,876 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Stock Up 2.1%

TCBX traded up $0.65 during trading on Friday, hitting $31.02. 32,805 shares of the company's stock were exchanged, compared to its average volume of 63,637. Third Coast Bancshares, Inc. has a fifty-two week low of $18.82 and a fifty-two week high of $39.45. The stock has a market cap of $429.10 million, a P/E ratio of 11.20 and a beta of 0.39. The business's 50 day moving average is $30.09 and its two-hundred day moving average is $33.20.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider William Bobbora bought 2,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $32.35 per share, with a total value of $64,700.00. Following the completion of the transaction, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 4,470 shares of company stock valued at $135,204. Corporate 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.