Avion Wealth Sells 1,500 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Avion Wealth trimmed its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 18.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,800 shares of the company’s stock after selling 1,500 shares during the period. Avion Wealth’s holdings in Third Coast Bancshares were worth $230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Third Coast Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock worth $7,363,000 after buying an additional 3,373 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of Third Coast Bancshares during the 3rd quarter worth approximately $6,811,000. State Street Corp increased its stake in shares of Third Coast Bancshares by 6.8% during the 3rd quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after purchasing an additional 13,948 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Third Coast Bancshares by 1.8% in the 3rd quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock worth $3,937,000 after purchasing an additional 2,632 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Third Coast Bancshares in the third quarter valued at approximately $1,443,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Insider Buying and Selling

In related news, insider William Bobbora bought 1,450 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average cost of $35.33 per share, for a total transaction of $51,228.50. Following the completion of the transaction, the insider now owns 6,050 shares of the company’s stock, valued at approximately $213,746.50. The trade was a 31.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.20% of the stock is owned by company insiders.

Third Coast Bancshares Trading Up 1.4 %

TCBX stock opened at $38.06 on Wednesday. The firm has a 50 day moving average of $34.84 and a 200-day moving average of $30.40. The firm has a market capitalization of $520.66 million, a P/E ratio of 13.74 and a beta of 0.31. Third Coast Bancshares, Inc. has a 12 month low of $18.00 and a 12 month high of $39.06.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. Sell-side analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analysts Set New Price Targets

TCBX has been the subject of a number of recent research reports. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd. Raymond James reissued an “outperform” rating and issued a $39.00 price objective (up previously from $34.00) on shares of Third Coast Bancshares in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, January 29th.

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.