Third Coast Bancshares (NASDAQ:TCBX) Insider William Bobbora Buys 1,200 Shares

Third Coast Bancshares, Inc. (NASDAQ:TCBX) insider William Bobbora purchased 1,200 shares of Third Coast Bancshares stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average cost of $39.62 per share, with a total value of $47,544.00. Following the transaction, the insider owned 48,306 shares in the company, valued at $1,913,883.72. This trade represents a 2.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Third Coast Bancshares Stock Up 0.1%

TCBX stock traded up $0.02 during midday trading on Tuesday, reaching $39.93. 58,213 shares of the company’s stock traded hands, compared to its average volume of 75,773. The firm’s fifty day moving average price is $40.19 and its 200-day moving average price is $39.09. Third Coast Bancshares, Inc. has a 52 week low of $25.17 and a 52 week high of $43.84. The company has a market cap of $554.79 million, a price-to-earnings ratio of 12.21 and a beta of 0.37.

Institutional Trading of Third Coast Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of TCBX. Adage Capital Partners GP L.L.C. increased its position in shares of Third Coast Bancshares by 28.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 511,940 shares of the company’s stock valued at $16,725,000 after purchasing an additional 112,605 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Third Coast Bancshares in the 3rd quarter worth about $3,462,000. Millennium Management LLC grew its position in Third Coast Bancshares by 88.2% during the first quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock valued at $5,924,000 after buying an additional 83,209 shares during the period. Franklin Resources Inc. grew its position in Third Coast Bancshares by 435.4% during the second quarter. Franklin Resources Inc. now owns 100,408 shares of the company’s stock valued at $3,280,000 after buying an additional 81,655 shares during the period. Finally, Invesco Ltd. increased its holdings in Third Coast Bancshares by 397.9% during the fourth quarter. Invesco Ltd. now owns 90,739 shares of the company’s stock worth $3,449,000 after buying an additional 72,513 shares during the last quarter. 36.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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. 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.