Vanguard Group Inc. Grows Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Vanguard Group Inc. grew its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 635,569 shares of the company’s stock after purchasing an additional 4,680 shares during the quarter. Vanguard Group Inc. owned about 4.67% of Third Coast Bancshares worth $12,724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of Third Coast Bancshares by 121.7% during the first quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock valued at $36,000 after buying an additional 1,000 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Third Coast Bancshares by 7.5% during the first quarter. Empowered Funds LLC now owns 25,113 shares of the company’s stock valued at $503,000 after buying an additional 1,750 shares during the last quarter. Salzhauer Michael grew its holdings in shares of Third Coast Bancshares by 91.2% during the first quarter. Salzhauer Michael now owns 37,675 shares of the company’s stock valued at $754,000 after buying an additional 17,969 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Third Coast Bancshares during the fourth quarter valued at $409,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Third Coast Bancshares during the fourth quarter valued at $606,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average price of $21.32 per share, with a total value of $31,980.00. Following the purchase, the insider now owns 2,600 shares in the company, valued at $55,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares Stock Up 0.7 %

TCBX opened at $21.66 on Wednesday. Third Coast Bancshares, Inc. has a twelve month low of $14.09 and a twelve month high of $26.38. The company has a 50-day moving average price of $21.52 and a 200 day moving average price of $20.41. The company has a market cap of $295.88 million, a PE ratio of 10.67 and a beta of 0.30.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.84%. The firm had revenue of $84.11 million during the quarter, compared to the consensus estimate of $41.00 million. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts expect that Third Coast Bancshares, Inc. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TCBX has been the subject of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $28.00 target price (up from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, July 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.