SG Americas Securities LLC Purchases 760 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

SG Americas Securities LLC raised its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 17.7% during the 4th quarter, HoldingsChannel reports. The fund owned 5,043 shares of the company’s stock after buying an additional 760 shares during the quarter. SG Americas Securities LLC’s holdings in Third Coast Bancshares were worth $171,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Doliver Advisors LP boosted its holdings in Third Coast Bancshares by 44.6% during the fourth quarter. Doliver Advisors LP now owns 20,250 shares of the company’s stock worth $687,000 after purchasing an additional 6,250 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 last quarter. Barclays PLC boosted its stake in shares of 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 last quarter. Geode Capital Management LLC grew its holdings 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 valued at $7,363,000 after acquiring an additional 3,373 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of 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 valued at $109,000 after acquiring an additional 2,454 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider William Bobbora bought 1,450 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $35.33 per share, with a total value of $51,228.50. Following the completion of the transaction, the insider now owns 6,050 shares of the company’s stock, valued at $213,746.50. This trade represents a 31.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.

Third Coast Bancshares Stock Down 1.2 %

Shares of NASDAQ TCBX opened at $38.16 on Monday. The business’s 50 day moving average price is $34.73 and its two-hundred day moving average price is $30.22. The company has a market cap of $522.03 million, a PE ratio of 13.78 and a beta of 0.31. Third Coast Bancshares, Inc. has a twelve month low of $18.00 and a twelve month high of $39.06.

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

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.