12 hours Ago By ABMN Staff
Marshall Wace LLP purchased a new position in Third Coast Bancshares, Inc. ( NASDAQ:TCBX – Free Report ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,558 shares of the company’s stock, valued at approximately $1,037,000.
Marshall Wace LLP owned 0.22% of Third Coast Bancshares as of its most recent SEC filing. Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company.
Picton Mahoney Asset Management purchased a new stake in Third Coast Bancshares in the fourth quarter worth $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares in the fourth quarter worth $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares in the fourth quarter worth $73,000.
SG Americas Securities LLC grew its stake in Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after purchasing an additional 760 shares during the period.
Finally, Walleye Capital LLC purchased a new stake in Third Coast Bancshares in the fourth quarter worth $203,000. 36.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes TCBX has been the topic of several analyst reports. Raymond James downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Stephens dropped their target price on Third Coast Bancshares from $44.
00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their target price on Third Coast Bancshares from $39.
00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. Third Coast Bancshares Price Performance Third Coast Bancshares stock opened at $29.
73 on Wednesday. Third Coast Bancshares, Inc. has a one year low of $18.
82 and a one year high of $39.45. The stock has a market capitalization of $411.
02 million, a PE ratio of 10.73 and a beta of 0.40.
The business’s fifty day moving average is $31.72 and its 200 day moving average is $33.39.
Third Coast Bancshares ( NASDAQ:TCBX – Get Free Report ) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.
70 by $0.08. Third Coast Bancshares had a return on equity of 10.
93% and a net margin of 14.06%. The company had revenue of $45.
90 million for the quarter, compared to analysts’ expectations of $46.02 million. As a group, sell-side analysts expect that Third Coast Bancshares, Inc.
will post 3.1 EPS for the current fiscal year. Insider Activity at Third Coast Bancshares In other news, insider William Bobbora bought 2,400 shares of the company’s stock in a transaction on Monday, April 28th.
The shares were acquired at an average cost of $28.51 per share, with a total value of $68,424.00.
Following the completion of the transaction, the insider now owns 9,250 shares of the company’s stock, valued at approximately $263,717.50. This trade represents a 35.
04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink . 10.
20% of the stock is currently owned by insiders. About Third Coast Bancshares ( Free Report ) 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.
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