Jacobs Levy Equity Management Inc. raised its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 315.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,082 shares of the company's stock after purchasing an additional 56,997 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.55% of Third Coast Bancshares worth $2,549,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in Third Coast Bancshares in the 4th quarter valued at $27,000. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares in the fourth quarter valued at about $40,000. US Bancorp DE acquired a new position in shares of Third Coast Bancshares during the fourth quarter worth about $73,000. 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 acquiring an additional 760 shares during the period. Finally, Walleye Capital LLC purchased a new position in Third Coast Bancshares during the fourth quarter worth about $203,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Stephens lowered their price target 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, April 25th. Finally, Keefe, Bruyette & Woods dropped 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 report on Friday, April 25th.
Get Our Latest Research Report on Third Coast Bancshares
Third Coast Bancshares Stock Performance
Third Coast Bancshares stock traded down $0.18 during midday trading on Wednesday, reaching $31.56. The stock had a trading volume of 5,667 shares, compared to its average volume of 62,191. The stock's 50-day simple moving average is $30.77 and its 200 day simple moving average is $33.52. Third Coast Bancshares, Inc. has a twelve month low of $18.82 and a twelve month high of $39.45. The stock has a market capitalization of $436.50 million, a PE ratio of 11.39 and a beta of 0.42.
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. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.02 million. Equities analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.
Insider Activity at Third Coast Bancshares
In related news, insider William Bobbora acquired 2,400 shares of Third Coast Bancshares stock in a transaction 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 purchase, the insider now directly owns 9,250 shares in the company, valued at $263,717.50. This trade represents a 35.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 4,470 shares of company stock worth $135,204. Company insiders own 10.28% of the company's stock.
Third Coast Bancshares Profile
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Free Report)
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.
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