Vanguard Group Inc. Purchases 9,395 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Vanguard Group Inc. boosted its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 643,219 shares of the company's stock after purchasing an additional 9,395 shares during the period. Vanguard Group Inc. owned approximately 4.70% of Third Coast Bancshares worth $21,837,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Third Coast Bancshares by 6.8% during the 3rd quarter. State Street Corp now owns 218,514 shares of the company's stock worth $5,850,000 after acquiring an additional 13,948 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Third Coast Bancshares in the 3rd quarter valued at $1,443,000. Public Employees Retirement System of Ohio increased its stake in Third Coast Bancshares by 150.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock worth $109,000 after purchasing an additional 2,454 shares in the last quarter. Barclays PLC raised its holdings in Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company's stock worth $426,000 after buying an additional 11,437 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Third Coast Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company's stock valued at $7,363,000 after buying an additional 3,373 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TCBX. Stephens reissued an "overweight" rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th. Finally, Raymond James lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.

Third Coast Bancshares Price Performance

TCBX traded up $0.38 on Friday, reaching $29.15. 58,166 shares of the company traded hands, compared to its average volume of 59,436. The company has a market cap of $401.95 million, a price-to-earnings ratio of 10.52 and a beta of 0.40. The stock's 50 day moving average price is $32.88 and its 200-day moving average price is $33.28. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.68 by $0.11. 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Third Coast Bancshares news, insider William Bobbora bought 2,000 shares of Third Coast Bancshares stock in a transaction on Friday, March 14th. The stock was 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 $1,347,021.65. The trade was a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.