Vanguard Group Inc. Boosts Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Vanguard Group Inc. grew its stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 643,219 shares of the company’s stock after purchasing an additional 9,395 shares during the quarter. Vanguard Group Inc.’s holdings in Third Coast Bancshares were worth $21,837,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Third Coast Bancshares during the 4th quarter valued at $27,000. R Squared Ltd bought a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $40,000. US Bancorp DE purchased a new position in shares of Third Coast Bancshares during the fourth quarter valued at about $73,000. Public Employees Retirement System of Ohio increased its position in shares of Third Coast Bancshares by 150.8% during 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 raised its stake in Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after buying an additional 760 shares in the last quarter. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Stock Performance

NASDAQ TCBX opened at $28.70 on Wednesday. The company has a market cap of $395.74 million, a P/E ratio of 10.36 and a beta of 0.40. The business’s 50 day moving average price is $33.41 and its 200-day moving average price is $33.16. Third Coast Bancshares, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate 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, equities analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity

In related news, insider William Bobbora purchased 2,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the purchase, the insider now owns 41,639 shares of the company’s stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBX has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research note on Thursday, January 23rd. Raymond James lowered Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th.

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.