EntryPoint Capital LLC Acquires New Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

EntryPoint Capital LLC bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,404 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TCBX. Martingale Asset Management L P increased its position in Third Coast Bancshares by 3.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,092 shares of the company’s stock worth $913,000 after purchasing an additional 1,101 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of Third Coast Bancshares during the third quarter worth $6,811,000. State Street Corp increased its holdings in shares of Third Coast Bancshares by 6.8% during the third quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after buying an additional 13,948 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Third Coast Bancshares in the 3rd quarter valued at $1,443,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Third Coast Bancshares by 150.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock valued at $109,000 after acquiring an additional 2,454 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Third Coast Bancshares Trading Down 2.7 %

Shares of TCBX opened at $33.19 on Friday. The stock’s 50-day moving average price is $35.24 and its two-hundred day moving average price is $32.87. Third Coast Bancshares, Inc. has a 12 month low of $18.00 and a 12 month high of $39.45. The company has a market capitalization of $457.66 million, a PE ratio of 11.98 and a beta of 0.32.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Wednesday, January 22nd. The company reported $0.79 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%. Equities research analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Insider Transactions at Third Coast Bancshares

In other news, insider William Bobbora bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the acquisition, the insider now directly owns 41,639 shares in the company, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.20% of the stock is currently owned by corporate insiders.

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.