American Century Companies Inc. Has $4.81 Million Stock Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

American Century Companies Inc. increased its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 82.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,765 shares of the company’s stock after acquiring an additional 64,148 shares during the period. American Century Companies Inc.’s holdings in Third Coast Bancshares were worth $4,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in Third Coast Bancshares by 254.6% in the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after buying an additional 11,437 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 3,373 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Third Coast Bancshares by 131.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock worth $625,000 after purchasing an additional 13,270 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Third Coast Bancshares during the 3rd quarter worth about $1,443,000. Finally, State Street Corp increased its position in shares of Third Coast Bancshares by 6.8% during the 3rd quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after purchasing an additional 13,948 shares in the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Trading Down 6.2 %

TCBX opened at $28.32 on Friday. Third Coast Bancshares, Inc. has a 1-year low of $18.00 and a 1-year high of $39.45. The stock has a market capitalization of $390.50 million, a PE ratio of 10.22 and a beta of 0.40. The firm has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $33.11.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate 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, research analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on TCBX shares. Keefe, Bruyette & Woods lowered shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th. Raymond James lowered Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd.

Insider Activity

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

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.