Squarepoint Ops LLC bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,389 shares of the company's stock, valued at approximately $658,000. Squarepoint Ops LLC owned about 0.14% of Third Coast Bancshares at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TCBX. Two Sigma Advisers LP raised its position in shares of Third Coast Bancshares by 14.3% in the 4th quarter. Two Sigma Advisers LP now owns 39,200 shares of the company's stock valued at $1,331,000 after acquiring an additional 4,900 shares during the period. Two Sigma Investments LP increased its stake in Third Coast Bancshares by 44.7% in the fourth quarter. Two Sigma Investments LP now owns 61,101 shares of the company's stock valued at $2,074,000 after purchasing an additional 18,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Third Coast Bancshares in the fourth quarter valued at approximately $28,000. Nuveen Asset Management LLC raised its holdings in Third Coast Bancshares by 155.3% in the fourth quarter. Nuveen Asset Management LLC now owns 81,305 shares of the company's stock worth $2,760,000 after purchasing an additional 49,461 shares during the period. Finally, Numerai GP LLC acquired a new stake in Third Coast Bancshares in the fourth quarter worth $566,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on TCBX. Raymond James lowered shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Stephens decreased their target price 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.
Read Our Latest Analysis on Third Coast Bancshares
Insider Activity at Third Coast Bancshares
In other news, insider William Bobbora bought 2,400 shares of the stock in a transaction on Monday, April 28th. The stock was purchased at an average price of $28.51 per share, for a total transaction of $68,424.00. Following the acquisition, the insider now owns 9,250 shares in the company, valued at approximately $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 4,470 shares of company stock valued at $135,204. 10.28% of the stock is owned by corporate insiders.
Third Coast Bancshares Stock Performance
NASDAQ TCBX traded up $0.65 during trading hours on Friday, reaching $31.02. 32,805 shares of the company's stock were exchanged, compared to its average volume of 63,637. The company has a market capitalization of $429.10 million, a price-to-earnings ratio of 11.20 and a beta of 0.39. The company's 50-day moving average is $30.09 and its two-hundred day moving average is $33.20. Third Coast Bancshares, Inc. has a one year low of $18.82 and a one year high of $39.45.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, beating 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 analysts' expectations of $46.02 million. Research analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.
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.
Further Reading
Before you consider Third Coast Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Third Coast Bancshares wasn't on the list.
While Third Coast Bancshares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
