Inscription Capital LLC Invests $1.68 Million in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Inscription Capital LLC purchased a new position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 50,297 shares of the company’s stock, valued at approximately $1,678,000. Inscription Capital LLC owned about 0.36% of Third Coast Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in TCBX. Empowered Funds LLC raised its position in Third Coast Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,406 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Third Coast Bancshares by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 35,182 shares of the company’s stock worth $1,194,000 after purchasing an additional 1,779 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Third Coast Bancshares during the 4th quarter worth approximately $73,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Third Coast Bancshares by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company’s stock worth $1,158,000 after purchasing an additional 942 shares during the period. Finally, Seizert Capital Partners LLC lifted its stake in Third Coast Bancshares by 14.3% in the fourth quarter. Seizert Capital Partners LLC now owns 13,697 shares of the company’s stock valued at $465,000 after purchasing an additional 1,709 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Trading Down 0.9%

Third Coast Bancshares stock opened at $29.93 on Tuesday. The firm has a 50 day simple moving average of $30.28 and a 200 day simple moving average of $32.96. Third Coast Bancshares, Inc. has a 1-year low of $18.82 and a 1-year high of $39.45. The firm has a market capitalization of $414.02 million, a price-to-earnings ratio of 10.81 and a beta of 0.39.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.08. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates 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 forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Buying and Selling

In other news, insider William Bobbora bought 2,400 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average price of $28.51 per share, with a total value of $68,424.00. Following the acquisition, the insider now owns 9,250 shares of the company’s stock, valued at approximately $263,717.50. The trade was a 35.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 10.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.