Third Coast Bancshares, Inc. (NASDAQ:TCBX) Insider William Bobbora Buys 2,000 Shares

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora purchased 2,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $32.35 per share, with a total value of $64,700.00. Following the completion of the purchase, the insider now directly owns 41,639 shares in the company, valued at $1,347,021.65. This trade represents a 5.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Third Coast Bancshares Stock Performance

NASDAQ TCBX opened at $32.38 on Friday. The company has a market capitalization of $446.49 million, a P/E ratio of 11.69 and a beta of 0.33. Third Coast Bancshares, Inc. has a one year low of $18.00 and a one year high of $39.44. The stock has a 50 day moving average price of $34.97 and a 200-day moving average price of $32.25.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating 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 fiscal year.

Institutional Trading of Third Coast Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of TCBX. Picton Mahoney Asset Management purchased a new stake in Third Coast Bancshares during the 4th quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Third Coast Bancshares in the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in Third Coast Bancshares in the fourth quarter worth $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares in the fourth quarter worth $73,000. Finally, Public Employees Retirement System of Ohio increased its stake in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after purchasing an additional 2,454 shares during the period. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TCBX. Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and set a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a research report on Friday, January 24th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.

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.