R Squared Ltd Purchases New Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

R Squared Ltd purchased a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,180 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TCBX. SG Americas Securities LLC boosted its position in 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 buying an additional 760 shares during the period. Doliver Advisors LP boosted its position in Third Coast Bancshares by 44.6% during the 4th quarter. Doliver Advisors LP now owns 20,250 shares of the company’s stock worth $687,000 after buying an additional 6,250 shares during the period. JPMorgan Chase & Co. boosted its position in Third Coast Bancshares by 131.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock worth $625,000 after buying an additional 13,270 shares during the period. Barclays PLC boosted its position in Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock worth $426,000 after buying an additional 11,437 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Third Coast Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock worth $7,363,000 after purchasing an additional 3,373 shares during the period. 36.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora bought 1,450 shares of Third Coast Bancshares stock in a transaction dated Thursday, December 5th. The stock was purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now directly owns 6,050 shares in the company, valued at $213,746.50. The trade was a 31.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by company insiders.

Third Coast Bancshares Trading Down 0.3 %

Shares of TCBX stock opened at $36.05 on Monday. The firm has a market capitalization of $493.16 million, a PE ratio of 13.01 and a beta of 0.31. The firm has a fifty day simple moving average of $34.56 and a two-hundred day simple moving average of $29.74. Third Coast Bancshares, Inc. has a 12 month low of $18.00 and a 12 month high of $37.79.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, equities analysts predict that Third Coast Bancshares, Inc. will post 2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.