Universal Beteiligungs und Servicegesellschaft mbH Takes $792,000 Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,331 shares of the company's stock, valued at approximately $792,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.17% of Third Coast Bancshares at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TCBX. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $3,040,000. Millennium Management LLC raised its stake in Third Coast Bancshares by 432.3% during the 4th quarter. Millennium Management LLC now owns 94,312 shares of the company's stock worth $3,202,000 after acquiring an additional 76,594 shares during the period. Alliancebernstein L.P. raised its stake in Third Coast Bancshares by 22.8% during the 4th quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock worth $13,871,000 after acquiring an additional 75,964 shares during the period. American Century Companies Inc. raised its position in shares of Third Coast Bancshares by 82.6% during the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock valued at $4,813,000 after buying an additional 64,148 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Third Coast Bancshares by 26.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company's stock valued at $9,996,000 after buying an additional 62,019 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider William Bobbora bought 2,400 shares of Third Coast Bancshares stock in a transaction on Monday, April 28th. The stock was 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 owns 9,250 shares of the company's stock, valued at $263,717.50. This trade represents a 35.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 4,470 shares of company stock worth $135,204. 10.28% of the stock is owned by corporate insiders.

Third Coast Bancshares Stock Up 2.1%

Shares of TCBX stock traded up $0.65 on Friday, hitting $31.02. The stock had a trading volume of 32,805 shares, compared to its average volume of 63,845. The business has a 50 day moving average price of $30.09 and a 200 day moving average price of $33.18. The company has a market cap of $429.10 million, a PE ratio of 11.20 and a beta of 0.39. 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 data 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. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.02 million. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. Equities research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analysts Set New Price Targets

TCBX has been the topic of several recent analyst reports. Raymond James cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Stephens dropped 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 research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price 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.

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.