Third Coast Bancshares, Inc. (NASDAQ:TCBX) Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP raised its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,262 shares of the company's stock after purchasing an additional 8,854 shares during the quarter. Wasatch Advisors LP owned 1.92% of Third Coast Bancshares worth $8,938,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in Third Coast Bancshares by 6.8% in the third quarter. State Street Corp now owns 218,514 shares of the company's stock valued at $5,850,000 after buying an additional 13,948 shares during the last quarter. Wellington Management Group LLP acquired a new position in Third Coast Bancshares during the third quarter valued at $1,443,000. Public Employees Retirement System of Ohio boosted its holdings in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock valued at $109,000 after purchasing an additional 2,454 shares during the last quarter. Barclays PLC grew its position 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 purchasing an additional 11,437 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Third Coast Bancshares by 1.2% during the 3rd 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 during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora purchased 2,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were bought at an average price of $32.35 per share, with a total value of $64,700.00. Following the completion of the transaction, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares Price Performance

NASDAQ TCBX traded up $0.70 during mid-day trading on Tuesday, hitting $29.48. The stock had a trading volume of 18,610 shares, compared to its average volume of 59,232. 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 $406.54 million, a price-to-earnings ratio of 10.68 and a beta of 0.40. The firm's 50 day moving average is $32.71 and its 200 day moving average is $33.30.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

TCBX has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $40.00 to $42.00 in a report on Wednesday, January 29th. Stephens reissued an "overweight" rating and set a $42.00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Raymond James cut shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd.

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.