Dimensional Fund Advisors LP Boosts Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Dimensional Fund Advisors LP lifted its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 26.7% during the 4th quarter, HoldingsChannel reports. The firm owned 294,411 shares of the company’s stock after acquiring an additional 62,019 shares during the period. Dimensional Fund Advisors LP’s holdings in Third Coast Bancshares were worth $9,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TCBX. Picton Mahoney Asset Management purchased a new stake in shares of Third Coast Bancshares during the fourth quarter valued at approximately $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares during the 4th quarter valued at approximately $40,000. US Bancorp DE bought a new stake in shares of Third Coast Bancshares in the 4th quarter worth about $73,000. SG Americas Securities LLC raised its holdings in Third Coast Bancshares by 17.7% during the 4th 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 period. Finally, Walleye Capital LLC bought a new stake in Third Coast Bancshares in the fourth quarter worth about $203,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TCBX has been the subject of a number of recent research reports. Stephens reduced their price objective on shares of Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Raymond James downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora purchased 2,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the acquisition, the insider now directly owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 4,470 shares of company stock worth $135,204 in the last three months. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares Price Performance

NASDAQ TCBX opened at $30.97 on Friday. The company has a market capitalization of $428.41 million, a PE ratio of 11.18 and a beta of 0.42. Third Coast Bancshares, Inc. has a 1 year low of $18.82 and a 1 year high of $39.45. The company has a fifty day moving average of $30.90 and a 200 day moving average of $33.53.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.02 million. Research analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Third Coast Bancshares 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.