JPMorgan Chase & Co. Purchases 32,795 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

JPMorgan Chase & Co. lifted its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 140.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,145 shares of the company's stock after buying an additional 32,795 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Third Coast Bancshares worth $1,906,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Third Coast Bancshares in the fourth quarter valued at approximately $251,000. Prudential Financial Inc. acquired a new stake in Third Coast Bancshares during the 4th quarter valued at $1,492,000. Vanguard Group Inc. lifted its holdings in Third Coast Bancshares by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 643,219 shares of the company's stock valued at $21,837,000 after purchasing an additional 9,395 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Third Coast Bancshares by 82.6% in the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock valued at $4,813,000 after purchasing an additional 64,148 shares during the last quarter. Finally, Summit Global Investments acquired a new position in shares of Third Coast Bancshares in the fourth quarter valued at $225,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TCBX. Keefe, Bruyette & Woods decreased 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 research note on Friday, April 25th. Stephens decreased their target price on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd.

Third Coast Bancshares Stock Performance

NASDAQ:TCBX traded up $0.07 during mid-day trading on Wednesday, reaching $29.80. 124,351 shares of the company's stock were exchanged, compared to its average volume of 61,204. Third Coast Bancshares, Inc. has a one year low of $18.82 and a one year high of $39.45. The business's fifty day simple moving average is $31.61 and its two-hundred day simple moving average is $33.37. The firm has a market capitalization of $411.99 million, a PE ratio of 10.76 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.70 by $0.08. The company had revenue of $45.90 million for the quarter, compared to analysts' expectations of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, equities research 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 related news, insider William Bobbora purchased 2,400 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were bought at an average price of $28.51 per share, for a total transaction of $68,424.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased 4,470 shares of company stock valued at $135,204 in the last three months. Corporate insiders own 10.20% 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.