Insider Buying: Third Coast Bancshares, Inc. (NASDAQ:TCBX) Insider Acquires $68,424.00 in Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora purchased 2,400 shares of the stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $28.51 per share, with a total value of $68,424.00. Following the completion of the purchase, the insider now owns 9,250 shares in the company, valued at $263,717.50. The trade was a 35.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

William Bobbora also recently made the following trade(s):

• On Friday, March 14th, William Bobbora acquired 2,000 shares of Third Coast Bancshares stock. The shares were purchased at an average price of $32.35 per share, with a total value of $64,700.00.

Third Coast Bancshares Trading Up 1.7 %

TCBX opened at $30.31 on Friday. The firm’s fifty day simple moving average is $31.51 and its 200 day simple moving average is $33.39. The stock has a market capitalization of $419.04 million, a P/E ratio of 10.94 and a beta of 0.40. Third Coast Bancshares, Inc. has a 12 month low of $18.82 and a 12 month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. The company had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $46.02 million. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. On average, equities research analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TCBX shares. Raymond James lowered shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Stephens decreased their target price on Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price target on Third Coast Bancshares from $39.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, April 25th.

Hedge Funds Weigh In On Third Coast Bancshares

Several hedge funds have recently made changes to their positions in TCBX. Arrowstreet Capital Limited Partnership bought a new position in Third Coast Bancshares in the fourth quarter valued at $3,040,000. Millennium Management LLC grew its holdings in shares of Third Coast Bancshares by 432.3% in the 4th quarter. Millennium Management LLC now owns 94,312 shares of the company’s stock valued at $3,202,000 after acquiring an additional 76,594 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company’s stock valued at $13,871,000 after acquiring an additional 75,964 shares during the last quarter. American Century Companies Inc. raised its holdings in Third Coast Bancshares by 82.6% during the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company’s stock worth $4,813,000 after acquiring an additional 64,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Third Coast Bancshares by 26.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company’s stock valued at $9,996,000 after purchasing an additional 62,019 shares during the last quarter. 36.88% of the stock is owned by institutional investors.

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.