Russell Investments Group Ltd. Buys 13,113 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Russell Investments Group Ltd. lifted its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 295.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,545 shares of the company's stock after purchasing an additional 13,113 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Third Coast Bancshares worth $596,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after purchasing an additional 760 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Third Coast Bancshares during the 4th quarter worth $27,000. Charles Schwab Investment Management Inc. increased its stake in shares of Third Coast Bancshares by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock worth $1,158,000 after purchasing an additional 942 shares during the last quarter. R Squared Ltd acquired a new position in shares of Third Coast Bancshares during the 4th quarter worth $40,000. Finally, Empowered Funds LLC increased its stake in shares of Third Coast Bancshares by 5.0% during the 4th quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock worth $1,007,000 after purchasing an additional 1,406 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company's stock.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the purchase, the insider now directly owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. The trade was a 5.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.20% of the company's stock.

Wall Street Analysts Forecast Growth

TCBX has been the topic of a number of research analyst reports. Stephens lowered their target price on shares of Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating on the stock in a research note on Friday.

Third Coast Bancshares Stock Performance

Shares of Third Coast Bancshares stock traded up $0.54 during trading on Monday, reaching $28.78. The company's stock had a trading volume of 119,751 shares, compared to its average volume of 60,658. The business's fifty day moving average price is $31.87 and its 200-day moving average price is $33.42. The firm has a market cap of $397.88 million, a price-to-earnings ratio of 10.39 and a beta of 0.40. 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 issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.08. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.02 million. Sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

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.