Third Coast Bancshares, Inc. (NASDAQ:TCBX) Insider William Bobbora Acquires 2,000 Shares

Third Coast Bancshares, Inc. (NASDAQ:TCBX) 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, with a total value of $64,700.00. Following the completion of the acquisition, the insider now owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Third Coast Bancshares Stock Performance

Shares of TCBX stock traded up $0.71 during trading hours on Friday, hitting $32.39. 27,568 shares of the company were exchanged, compared to its average volume of 72,586. The stock has a market capitalization of $446.56 million, a price-to-earnings ratio of 11.69 and a beta of 0.33. Third Coast Bancshares, Inc. has a one year low of $18.00 and a one year high of $39.44. The business’s 50-day simple moving average is $34.97 and its two-hundred day simple moving average is $32.25.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. As a group, analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on TCBX shares. Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating and raised their target price for the company from $40.00 to $42.00 in a research note on Wednesday, January 29th. Raymond James reissued an “outperform” rating and issued a $39.00 price target (up previously from $34.00) on shares of Third Coast Bancshares in a report on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Third Coast Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in shares of Third Coast Bancshares by 5.0% during the third quarter. Empowered Funds LLC now owns 28,253 shares of the company’s stock valued at $756,000 after purchasing an additional 1,340 shares during the last quarter. Seizert Capital Partners LLC bought a new position in shares of Third Coast Bancshares during the third quarter worth about $321,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Third Coast Bancshares by 100.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,199 shares of the company’s stock worth $916,000 after acquiring an additional 17,114 shares during the last quarter. Martingale Asset Management L P increased its holdings in shares of Third Coast Bancshares by 3.3% in the 3rd quarter. Martingale Asset Management L P now owns 34,092 shares of the company’s stock worth $913,000 after acquiring an additional 1,101 shares during the period. Finally, Wasatch Advisors LP bought a new stake in Third Coast Bancshares in the 3rd quarter valued at about $6,811,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Company 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.