19,389 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 19,389 shares of the company's stock, valued at approximately $658,000. Squarepoint Ops LLC owned approximately 0.14% of Third Coast Bancshares as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Third Coast Bancshares by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 643,219 shares of the company's stock valued at $21,837,000 after acquiring an additional 9,395 shares during the period. Alliancebernstein L.P. boosted its stake 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 valued at $13,871,000 after purchasing an additional 75,964 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Third Coast Bancshares by 13.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 335,288 shares of the company's stock worth $11,383,000 after purchasing an additional 40,114 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Third Coast Bancshares by 26.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company's stock worth $9,996,000 after purchasing an additional 62,019 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in Third Coast Bancshares by 3.5% during the 4th quarter. Wasatch Advisors LP now owns 263,262 shares of the company's stock valued at $8,938,000 after purchasing an additional 8,854 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Price Performance

Shares of NASDAQ TCBX traded down $0.16 during midday trading on Thursday, hitting $30.44. The stock had a trading volume of 29,686 shares, compared to its average volume of 63,381. The firm has a market cap of $421.04 million, a P/E ratio of 11.03 and a beta of 0.42. Third Coast Bancshares, Inc. has a fifty-two week low of $18.82 and a fifty-two week high of $39.45. The company's 50-day simple moving average is $30.19 and its 200 day simple moving average is $33.27.

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

Insider Activity

In other Third Coast Bancshares news, insider William Bobbora acquired 2,400 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average cost of $28.51 per share, for a total transaction of $68,424.00. Following the completion of the acquisition, the insider now directly owns 9,250 shares of the company's stock, valued at approximately $263,717.50. This represents a 35.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 4,470 shares of company stock valued at $135,204. 10.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on TCBX shares. Keefe, Bruyette & Woods decreased 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 note on Friday, April 25th. Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Stephens cut their price objective 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 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.