EntryPoint Capital LLC Invests $251,000 in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

EntryPoint Capital LLC bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,404 shares of the company’s stock, valued at approximately $251,000. EntryPoint Capital LLC owned about 0.05% of Third Coast Bancshares at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock worth $426,000 after buying an additional 11,437 shares during the last quarter. Geode Capital Management LLC boosted its position in Third Coast Bancshares by 1.2% during the third 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 during the last quarter. JPMorgan Chase & Co. boosted its position in Third Coast Bancshares by 131.6% during the third quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock valued at $625,000 after purchasing an additional 13,270 shares during the last quarter. Wasatch Advisors LP bought a new position in Third Coast Bancshares in the third quarter valued at approximately $6,811,000. Finally, Wellington Management Group LLP acquired a new position in shares of Third Coast Bancshares during the 3rd quarter worth approximately $1,443,000. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Down 2.7 %

Shares of TCBX stock opened at $33.19 on Friday. The company has a market capitalization of $457.66 million, a PE ratio of 11.98 and a beta of 0.32. Third Coast Bancshares, Inc. has a 12-month low of $18.00 and a 12-month high of $39.45. The firm has a 50 day moving average price of $35.24 and a two-hundred day moving average price of $32.87.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, research analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora bought 2,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was 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 of the company’s stock, valued at $1,347,021.65. This represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and increased their price target for the company from $40.00 to $42.00 in a research note on Wednesday, January 29th. Finally, Raymond James reiterated an “outperform” rating and issued a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a research note on Friday, January 24th.

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.