Jacobs Levy Equity Management Inc. Increases Stock Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Jacobs Levy Equity Management Inc. increased its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 315.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,082 shares of the company's stock after acquiring an additional 56,997 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.55% of Third Coast Bancshares worth $2,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after purchasing an additional 760 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Third Coast Bancshares during the 4th quarter worth approximately $27,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Third Coast Bancshares by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock valued at $1,158,000 after acquiring an additional 942 shares during the last quarter. R Squared Ltd purchased a new position in shares of Third Coast Bancshares in the fourth quarter valued at approximately $40,000. Finally, Empowered Funds LLC boosted its stake in shares of Third Coast Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company's stock worth $1,007,000 after acquiring an additional 1,406 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company's stock.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $32.35 per share, with a total value of $64,700.00. Following the transaction, the insider now owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. This trade represents a 5.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 4,470 shares of company stock valued at $135,204 over the last 90 days. 10.20% of the stock is owned by insiders.

Analyst Ratings Changes

TCBX has been the subject of several research reports. Keefe, Bruyette & Woods dropped 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 cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, Stephens lowered their price objective on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th.

Third Coast Bancshares Stock Down 0.6%

Shares of Third Coast Bancshares stock traded down $0.20 during mid-day trading on Monday, hitting $31.60. The stock had a trading volume of 39,423 shares, compared to its average volume of 62,440. The firm has a 50-day moving average of $30.79 and a two-hundred day moving average of $33.54. The firm has a market cap of $437.12 million, a P/E ratio of 11.41 and a beta of 0.42. Third Coast Bancshares, Inc. has a 12-month low of $18.82 and a 12-month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.08. The company had revenue of $45.90 million for 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%. Sell-side analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share 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.