Connor Clark & Lunn Investment Management Ltd. Purchases 41,876 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Connor Clark & Lunn Investment Management Ltd. grew its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 122.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,075 shares of the company’s stock after buying an additional 41,876 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Third Coast Bancshares were worth $2,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its holdings in 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 buying an additional 1,340 shares during the period. Seizert Capital Partners LLC bought a new position in shares of Third Coast Bancshares in the 3rd quarter worth $321,000. Martingale Asset Management L P lifted its stake in shares of Third Coast Bancshares by 3.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,092 shares of the company’s stock worth $913,000 after purchasing an additional 1,101 shares during the last quarter. Wasatch Advisors LP bought a new stake in Third Coast Bancshares during the third quarter valued at about $6,811,000. Finally, State Street Corp grew its stake 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 purchasing an additional 13,948 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora purchased 2,000 shares of Third Coast Bancshares stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.20% of the company’s stock.

Third Coast Bancshares Price Performance

Shares of TCBX stock opened at $32.87 on Tuesday. The business has a fifty day moving average of $34.96 and a 200 day moving average of $32.45. The firm has a market capitalization of $453.24 million, a price-to-earnings ratio of 11.87 and a beta of 0.32. Third Coast Bancshares, Inc. has a 1 year low of $18.00 and a 1 year high of $39.45.

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

About Third Coast Bancshares

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.