Nottingham Advisors Inc. Buys Shares of 37,423 Third Coast Bancshares, Inc. $TCBX

Nottingham Advisors Inc. bought a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 37,423 shares of the company’s stock, valued at approximately $1,416,000. Nottingham Advisors Inc. owned about 0.23% of Third Coast Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCBX. Adage Capital Partners GP L.L.C. boosted its holdings in Third Coast Bancshares by 28.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 511,940 shares of the company’s stock valued at $16,725,000 after acquiring an additional 112,605 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Third Coast Bancshares by 13.6% during the third quarter. Kennedy Capital Management LLC now owns 458,047 shares of the company’s stock worth $17,392,000 after purchasing an additional 54,713 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Third Coast Bancshares by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 445,144 shares of the company’s stock worth $16,920,000 after purchasing an additional 27,175 shares during the last quarter. State Street Corp boosted its stake in shares of Third Coast Bancshares by 4.8% during the fourth quarter. State Street Corp now owns 342,489 shares of the company’s stock valued at $13,018,000 after purchasing an additional 15,835 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Third Coast Bancshares by 44.9% in the fourth quarter. Wellington Management Group LLP now owns 193,326 shares of the company’s stock worth $7,348,000 after purchasing an additional 59,924 shares during the last quarter. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCBX has been the topic of several recent analyst reports. Stephens reduced their price target on shares of Third Coast Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Zacks Research downgraded shares of Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Raymond James Financial upgraded Third Coast Bancshares from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Third Coast Bancshares Price Performance

TCBX stock opened at $39.88 on Wednesday. Third Coast Bancshares, Inc. has a 1-year low of $31.26 and a 1-year high of $43.84. The business has a 50-day moving average price of $38.78 and a 200 day moving average price of $39.28. The company has a market capitalization of $661.69 million, a P/E ratio of 12.20 and a beta of 0.33.

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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.