Two Sigma Investments LP Buys 18,870 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Two Sigma Investments LP raised its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,101 shares of the company's stock after buying an additional 18,870 shares during the quarter. Two Sigma Investments LP owned 0.45% of Third Coast Bancshares worth $2,074,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TCBX. Picton Mahoney Asset Management purchased a new position in shares of Third Coast Bancshares during the 4th quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Third Coast Bancshares during the 4th quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $40,000. US Bancorp DE acquired a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $73,000. Finally, SG Americas Securities LLC grew its stake in shares of Third Coast Bancshares by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock valued at $171,000 after buying an additional 760 shares in the last quarter. Institutional investors and hedge funds own 36.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TCBX shares. Raymond James lowered shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price target on shares of 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 price objective on shares of Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating for the company in a report on Friday, April 25th.

Third Coast Bancshares Price Performance

TCBX traded up $0.60 on Tuesday, hitting $31.31. The company had a trading volume of 27,715 shares, compared to its average volume of 63,219. The stock has a market cap of $433.11 million, a price-to-earnings ratio of 11.30 and a beta of 0.42. The company's fifty day moving average price is $30.30 and its 200 day moving average price is $33.30. Third Coast Bancshares, Inc. has a 1-year low of $18.82 and a 1-year high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, sell-side analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Buying and Selling at Third Coast Bancshares

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 stock was acquired at an average price of $28.51 per share, with a total value of $68,424.00. Following the transaction, the insider now owns 9,250 shares of the company's stock, valued at approximately $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 4,470 shares of company stock worth $135,204 over the last ninety days. Company insiders own 10.28% of the company's stock.

Third Coast Bancshares 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.