6,637 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Bought by Summit Global Investments

Summit Global Investments bought a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,637 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in shares of Third Coast Bancshares during the 4th quarter valued at about $27,000. R Squared Ltd bought a new stake in Third Coast Bancshares during the fourth quarter valued at approximately $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares during the fourth quarter valued at approximately $73,000. Public Employees Retirement System of Ohio raised its position in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after acquiring an additional 2,454 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after acquiring an additional 760 shares during the last quarter. 36.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider William Bobbora bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $32.35 per share, with a total value of $64,700.00. Following the completion of the purchase, the insider now owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. The trade was a 5.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TCBX. 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. Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, January 29th. Finally, 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.

Third Coast Bancshares Stock Performance

Shares of TCBX stock opened at $34.48 on Wednesday. The stock has a fifty day simple moving average of $35.18 and a two-hundred day simple moving average of $32.80. The firm has a market capitalization of $475.44 million, a PE ratio of 12.45 and a beta of 0.32. Third Coast Bancshares, Inc. has a 52-week low of $18.00 and a 52-week high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX) last issued its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

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.