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

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost 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 in the company, valued at $1,347,021.65. This trade represents a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Third Coast Bancshares Stock Performance

Shares of Third Coast Bancshares stock opened at $32.38 on Friday. The stock has a market capitalization of $446.49 million, a PE ratio of 11.69 and a beta of 0.33. Third Coast Bancshares, Inc. has a 52-week low of $18.00 and a 52-week high of $39.44. The company has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $32.34.

Third Coast Bancshares (NASDAQ:TCBX) last announced 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 net margin of 14.06% and a return on equity of 10.93%. As a group, equities research analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a report on Friday, January 24th.

Institutional Trading of Third Coast Bancshares

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Third Coast Bancshares by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 643,219 shares of the company’s stock worth $21,837,000 after acquiring an additional 9,395 shares during the period. Alliancebernstein L.P. grew its stake in shares of Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company’s stock worth $13,871,000 after acquiring an additional 75,964 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Third Coast Bancshares by 13.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 335,288 shares of the company’s stock worth $11,383,000 after acquiring an additional 40,114 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Third Coast Bancshares by 26.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company’s stock worth $9,996,000 after acquiring an additional 62,019 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Third Coast Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock worth $7,363,000 after acquiring an additional 3,373 shares during the period. 36.88% of the stock is currently owned by institutional investors.

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.