Guided Capital Wealth Management LLC Buys Shares of 23,135 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Guided Capital Wealth Management LLC bought a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,135 shares of the company’s stock, valued at approximately $785,000. Third Coast Bancshares makes up about 0.7% of Guided Capital Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in 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 in the last quarter. Wasatch Advisors LP purchased a new position in Third Coast Bancshares in the 3rd quarter valued at about $6,811,000. State Street Corp lifted its holdings in Third Coast Bancshares by 6.8% in the 3rd quarter. State Street Corp now owns 218,514 shares of the company’s stock valued at $5,850,000 after purchasing an additional 13,948 shares in the last quarter. Blue Trust Inc. lifted its holdings in Third Coast Bancshares by 1.8% in the 3rd quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock valued at $3,937,000 after purchasing an additional 2,632 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Third Coast Bancshares during the 3rd quarter worth about $1,443,000. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Price Performance

Shares of TCBX stock opened at $38.06 on Wednesday. The firm’s 50-day simple moving average is $34.84 and its 200-day simple moving average is $30.40. The firm has a market cap of $520.66 million, a P/E ratio of 13.74 and a beta of 0.31. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.06.

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

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora bought 1,450 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $35.33 per share, with a total value of $51,228.50. Following the transaction, the insider now owns 6,050 shares in the company, valued at $213,746.50. This trade represents a 31.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

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

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.