Inscription Capital LLC Makes New Investment in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Inscription Capital LLC purchased a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 1st quarter, HoldingsChannel reports. The fund purchased 50,297 shares of the company’s stock, valued at approximately $1,678,000.

A number of other large investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in Third Coast Bancshares in the first quarter worth $407,000. Annex Advisory Services LLC bought a new stake in Third Coast Bancshares during the first quarter worth about $1,752,000. GAMMA Investing LLC boosted its holdings in shares of Third Coast Bancshares by 3,294.8% in the 1st quarter. GAMMA Investing LLC now owns 17,619 shares of the company’s stock worth $588,000 after purchasing an additional 17,100 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Third Coast Bancshares in the 4th quarter worth about $792,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Third Coast Bancshares by 120.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,002 shares of the company’s stock valued at $306,000 after purchasing an additional 4,921 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective 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. 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 research report on Friday, April 25th. Finally, Raymond James lowered shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd.

Third Coast Bancshares Stock Down 0.9%

NASDAQ TCBX opened at $29.93 on Tuesday. The company has a 50-day simple moving average of $30.28 and a two-hundred day simple moving average of $32.96. Third Coast Bancshares, Inc. has a 12-month low of $18.82 and a 12-month high of $39.45. The firm has a market cap of $414.02 million, a price-to-earnings ratio of 10.81 and a beta of 0.39.

Third Coast Bancshares (NASDAQ:TCBX) last issued its earnings results on Wednesday, April 23rd. The company reported $0.78 earnings per share 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 during the quarter, compared to analysts’ expectations of $46.02 million. Equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora purchased 2,400 shares of the business’s stock in a transaction 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 acquisition, the insider now directly owns 9,250 shares in the company, valued at approximately $263,717.50. The trade was a 35.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.28% of the company’s stock.

Third Coast Bancshares Company 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.