16,670 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Purchased by Numerai GP LLC

Numerai GP LLC acquired a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,670 shares of the company’s stock, valued at approximately $566,000. Numerai GP LLC owned approximately 0.12% of Third Coast Bancshares at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Third Coast Bancshares by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 643,219 shares of the company’s stock worth $21,837,000 after buying an additional 9,395 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company’s stock valued at $13,871,000 after purchasing an additional 75,964 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Third Coast Bancshares by 13.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 335,288 shares of the company’s stock valued at $11,383,000 after purchasing an additional 40,114 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Third Coast Bancshares by 26.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 294,411 shares of the company’s stock valued at $9,996,000 after purchasing an additional 62,019 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Third Coast Bancshares by 3.5% in the fourth quarter. Wasatch Advisors LP now owns 263,262 shares of the company’s stock valued at $8,938,000 after purchasing an additional 8,854 shares in the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Performance

Shares of TCBX opened at $31.80 on Thursday. The company has a market capitalization of $439.89 million, a price-to-earnings ratio of 11.48 and a beta of 0.42. The company’s 50 day simple moving average is $30.80 and its 200 day simple moving average is $33.54. Third Coast Bancshares, Inc. has a 1 year low of $18.82 and a 1 year high of $39.45.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on TCBX shares. Stephens reduced their price target on shares of Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Keefe, Bruyette & Woods reduced 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 shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora acquired 2,400 shares of Third Coast Bancshares stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average price of $28.51 per share, with a total value of $68,424.00. Following the completion of the purchase, the insider now owns 9,250 shares of the company’s stock, valued at approximately $263,717.50. This represents a 35.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 4,470 shares of company stock valued at $135,204. Company insiders own 10.20% of the company’s stock.

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.