43,944 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Purchased by Prudential Financial Inc.

Prudential Financial Inc. acquired a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 43,944 shares of the company’s stock, valued at approximately $1,492,000.

Other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Third Coast Bancshares during the 4th quarter worth approximately $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares in the fourth quarter worth $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares in the fourth quarter worth $73,000. Public Employees Retirement System of Ohio raised its stake in shares of 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 buying an additional 2,454 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after buying an additional 760 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TCBX. Raymond James cut Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd.

Insider Transactions at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the transaction, the insider now owns 41,639 shares in the company, valued at $1,347,021.65. The trade was a 5.05 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 10.20% of the company’s stock.

Third Coast Bancshares Stock Down 6.2 %

Shares of NASDAQ TCBX opened at $28.32 on Friday. The business has a 50-day simple moving average of $34.95 and a two-hundred day simple moving average of $33.11. Third Coast Bancshares, Inc. has a 52 week low of $18.00 and a 52 week high of $39.45. The company has a market cap of $390.50 million, a P/E ratio of 10.22 and a beta of 0.40.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data 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%. Equities research analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

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.