Kennedy Capital Management LLC Sells 1,401 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Kennedy Capital Management LLC decreased its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 311,794 shares of the company’s stock after selling 1,401 shares during the quarter. Kennedy Capital Management LLC owned approximately 2.28% of Third Coast Bancshares worth $10,585,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in shares of Third Coast Bancshares in the fourth quarter valued at about $27,000. R Squared Ltd acquired a new stake in Third Coast Bancshares in the 4th quarter valued at about $40,000. US Bancorp DE bought a new position in shares of Third Coast Bancshares in the fourth quarter worth about $73,000. Public Employees Retirement System of Ohio lifted its position in shares of Third Coast Bancshares by 150.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after purchasing an additional 2,454 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after purchasing an additional 760 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Down 6.0 %

NASDAQ:TCBX opened at $27.48 on Friday. Third Coast Bancshares, Inc. has a 12-month low of $18.00 and a 12-month high of $39.45. The stock’s fifty day simple moving average is $34.00 and its 200-day simple moving average is $33.12. The firm has a market capitalization of $378.92 million, a P/E ratio of 9.92 and a beta of 0.40.

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

Insider Buying and Selling

In other 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 completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered Third Coast Bancshares from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, January 29th.

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.