Two Sigma Investments LP Increases Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Two Sigma Investments LP increased its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 44.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,101 shares of the company's stock after purchasing an additional 18,870 shares during the period. Two Sigma Investments LP owned approximately 0.45% of Third Coast Bancshares worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Third Coast Bancshares by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,502 shares of the company's stock valued at $221,000 after purchasing an additional 304 shares during the period. SG Americas Securities LLC increased its stake in shares of Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after buying an additional 760 shares during the period. Picton Mahoney Asset Management bought a new stake in Third Coast Bancshares during the 4th quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Third Coast Bancshares during the 4th quarter valued at $28,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Third Coast Bancshares by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock worth $1,158,000 after acquiring an additional 942 shares during the last quarter. Institutional investors own 36.88% of the company's stock.

Analyst Upgrades and Downgrades

TCBX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of 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. 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 dropped their price objective on 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 Stock Down 0.8%

Shares of NASDAQ:TCBX traded down $0.23 on Thursday, hitting $30.37. The company had a trading volume of 43,366 shares, compared to its average volume of 63,552. The firm's 50-day simple moving average is $30.13 and its two-hundred day simple moving average is $33.23. The firm has a market capitalization of $420.11 million, a price-to-earnings ratio of 10.96 and a beta of 0.39. 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 issued its quarterly earnings data 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 business had revenue of $45.90 million during the quarter, compared to analyst estimates of $46.02 million. Equities research analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity

In other news, insider William Bobbora acquired 2,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was acquired at an average price 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 $1,347,021.65. This trade represents a 5.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 4,470 shares of company stock worth $135,204 in the last quarter. 10.28% of the stock is owned by company insiders.

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.