Hillsdale Investment Management Inc. Has $3.72 Million Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Hillsdale Investment Management Inc. decreased its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,600 shares of the company’s stock after selling 1,100 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.80% of Third Coast Bancshares worth $3,721,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TCBX. Barclays PLC lifted its stake in Third Coast Bancshares by 254.6% in the third quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after acquiring an additional 11,437 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Third Coast Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock valued at $7,363,000 after purchasing an additional 3,373 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Third Coast Bancshares by 131.6% in the third quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock worth $625,000 after purchasing an additional 13,270 shares in the last quarter. Wellington Management Group LLP acquired a new position in Third Coast Bancshares during the third quarter worth $1,443,000. Finally, Wasatch Advisors LP bought a new position in Third Coast Bancshares during the third quarter valued at about $6,811,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora acquired 2,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TCBX shares. 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 reaffirmed 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. Finally, Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.

Third Coast Bancshares Stock Performance

Third Coast Bancshares stock opened at $33.40 on Friday. The business’s 50-day simple moving average is $35.08 and its 200-day simple moving average is $32.62. Third Coast Bancshares, Inc. has a 52 week low of $18.00 and a 52 week high of $39.45. The firm has a market capitalization of $460.55 million, a PE ratio of 12.06 and a beta of 0.32.

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

Third Coast Bancshares 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.