Insider Buying: Third Coast Bancshares, Inc. (NASDAQ:TCBX) Insider Acquires $64,700.00 in Stock

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora bought 2,000 shares of Third Coast Bancshares stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the transaction, the insider now owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Third Coast Bancshares Price Performance

TCBX stock opened at $32.38 on Monday. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.44. The firm has a fifty day moving average price of $34.96 and a two-hundred day moving average price of $32.39. The firm has a market cap of $446.49 million, a price-to-earnings ratio of 11.69 and a beta of 0.32.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TCBX shares. Raymond James reaffirmed an “outperform” rating and issued a $39.00 price target (up 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 target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, January 29th.

Institutional Trading of Third Coast Bancshares

Several institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Third Coast Bancshares during the fourth quarter valued at $792,000. Public Employees Retirement System of Ohio grew its position in shares of Third Coast Bancshares by 120.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,002 shares of the company’s stock worth $306,000 after acquiring an additional 4,921 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Third Coast Bancshares during the fourth quarter worth about $658,000. Two Sigma Advisers LP grew its position in shares of Third Coast Bancshares by 14.3% during the fourth quarter. Two Sigma Advisers LP now owns 39,200 shares of the company’s stock worth $1,331,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Third Coast Bancshares by 44.7% during the fourth quarter. Two Sigma Investments LP now owns 61,101 shares of the company’s stock worth $2,074,000 after acquiring an additional 18,870 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

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.