Third Coast Bancshares, Inc. (NASDAQ:TCBX - Get Free Report) insider William Bobbora purchased 2,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the purchase, the insider now owns 41,639 shares of the company's stock, valued at approximately $1,347,021.65. This trade represents a 5.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Third Coast Bancshares Price Performance
Shares of TCBX stock opened at $32.38 on Friday. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.44. The stock's 50-day moving average is $34.97 and its 200 day moving average is $32.25. The company has a market cap of $446.49 million, a P/E ratio of 11.69 and a beta of 0.33.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. On average, analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.
Institutional Investors Weigh In On Third Coast Bancshares
Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Third Coast Bancshares by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,502 shares of the company's stock worth $221,000 after acquiring an additional 304 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after purchasing an additional 760 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Third Coast Bancshares in the fourth quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Third Coast Bancshares in the fourth quarter worth about $28,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Third Coast Bancshares by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,098 shares of the company's stock worth $1,158,000 after purchasing an additional 942 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods lowered Third Coast Bancshares from an "outperform" rating to a "market perform" rating and raised their price target for the company from $40.00 to $42.00 in a research note on Wednesday, January 29th. Stephens reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Third Coast Bancshares in a research report on Thursday, January 23rd. Finally, Raymond James reaffirmed an "outperform" rating and set a $39.00 price objective (up previously from $34.00) on shares of Third Coast Bancshares in a research report on Friday, January 24th.
View Our Latest Stock Report on Third Coast Bancshares
About Third Coast Bancshares
(
Get Free Report)
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.
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