Third Coast Bancshares (NASDAQ:TCBX) Insider William Bobbora Acquires 1,200 Shares of Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora acquired 1,200 shares of Third Coast Bancshares stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $39.62 per share, with a total value of $47,544.00. Following the completion of the purchase, the insider owned 48,306 shares of the company’s stock, valued at approximately $1,913,883.72. This represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Third Coast Bancshares Price Performance

Shares of TCBX stock opened at $39.93 on Wednesday. Third Coast Bancshares, Inc. has a one year low of $25.17 and a one year high of $43.84. The company’s fifty day moving average price is $40.18 and its 200-day moving average price is $39.12. The company has a market capitalization of $554.79 million, a price-to-earnings ratio of 12.21 and a beta of 0.37.

Hedge Funds Weigh In On Third Coast Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCBX. Invesco Ltd. grew its holdings in Third Coast Bancshares by 397.9% during the 4th quarter. Invesco Ltd. now owns 90,739 shares of the company’s stock valued at $3,449,000 after buying an additional 72,513 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Third Coast Bancshares by 10.9% in the fourth quarter. Empowered Funds LLC now owns 58,294 shares of the company’s stock valued at $2,216,000 after purchasing an additional 5,718 shares in the last quarter. XTX Topco Ltd bought a new stake in Third Coast Bancshares in the fourth quarter worth $237,000. Wellington Management Group LLP increased its position in Third Coast Bancshares by 44.9% in the fourth quarter. Wellington Management Group LLP now owns 193,326 shares of the company’s stock worth $7,348,000 after purchasing an additional 59,924 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Third Coast Bancshares during the fourth quarter valued at $246,000. 36.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TCBX has been the subject of a number of recent analyst reports. Zacks Research raised Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods boosted their price target on Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Finally, Stephens upped their price target on Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Third Coast Bancshares has an average rating of “Moderate Buy” and a consensus price target of $45.50.

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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.