US Bancorp DE Buys Shares of 2,140 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

US Bancorp DE purchased a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,140 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TCBX. R Squared Ltd acquired a new position in shares of Third Coast Bancshares during the fourth quarter valued at about $40,000. Public Employees Retirement System of Ohio lifted its stake in shares of Third Coast Bancshares by 150.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after buying an additional 2,454 shares during the period. SG Americas Securities LLC grew its holdings in shares of Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after buying an additional 760 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of Third Coast Bancshares in the 4th quarter valued at $232,000. Finally, Seizert Capital Partners LLC purchased a new position in Third Coast Bancshares in the 3rd quarter worth $321,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TCBX has been the topic of several research analyst reports. Raymond James reiterated an “outperform” rating and set a $39.00 price target (up previously from $34.00) on shares of Third Coast Bancshares in a research note on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Third Coast Bancshares in a research 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 lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, January 29th.

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 2,000 shares of Third Coast Bancshares stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $32.35 per share, with a total value of $64,700.00. Following the acquisition, the insider now owns 41,639 shares of the company’s stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.20% of the company’s stock.

Third Coast Bancshares Stock Up 1.5 %

Shares of TCBX stock opened at $32.87 on Tuesday. Third Coast Bancshares, Inc. has a 52-week low of $18.00 and a 52-week high of $39.45. The stock has a market cap of $453.24 million, a PE ratio of 11.87 and a beta of 0.32. The business has a 50-day simple moving average of $34.96 and a 200-day simple moving average of $32.45.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

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.