Third Coast Bancshares, Inc. (NASDAQ:TCBX - Get Free Report) insider William Bobbora acquired 2,400 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was bought at an average price of $28.51 per share, with a total value of $68,424.00. Following the acquisition, the insider now directly owns 9,250 shares in the company, valued at $263,717.50. This represents a 35.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
William Bobbora also recently made the following trade(s):
- On Friday, March 14th, William Bobbora purchased 2,000 shares of Third Coast Bancshares stock. The shares were bought at an average cost of $32.35 per share, with a total value of $64,700.00.
Third Coast Bancshares Stock Up 3.3 %
Shares of TCBX stock opened at $29.73 on Wednesday. The company has a market capitalization of $411.02 million, a PE ratio of 10.73 and a beta of 0.40. Third Coast Bancshares, Inc. has a 12-month low of $18.82 and a 12-month high of $39.45. The firm has a 50 day moving average price of $31.72 and a two-hundred day moving average price of $33.39.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. The firm had revenue of $45.90 million for the quarter, compared to analysts' expectations of $46.02 million. As a group, research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.
Hedge Funds Weigh In On Third Coast Bancshares
Several hedge funds and other institutional investors have recently made changes to their positions in TCBX. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Third Coast Bancshares in the 4th quarter valued at $3,040,000. Millennium Management LLC boosted its stake in Third Coast Bancshares by 432.3% in the fourth quarter. Millennium Management LLC now owns 94,312 shares of the company's stock valued at $3,202,000 after buying an additional 76,594 shares in the last quarter. Alliancebernstein L.P. grew its position in Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company's stock valued at $13,871,000 after acquiring an additional 75,964 shares during the last quarter. American Century Companies Inc. raised its stake in Third Coast Bancshares by 82.6% during the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company's stock worth $4,813,000 after acquiring an additional 64,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on Third Coast Bancshares from $39.00 to $36.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Finally, Stephens decreased their target price on Third Coast Bancshares from $44.00 to $39.00 and set an "overweight" rating on the stock in a report on Friday, April 25th.
View Our Latest Stock Analysis 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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